Vivendi profit boosted by higher earnings at Canal Plus
China Daily | Updated: 2008-09-02 07:57
Vivendi SA's second-quarter profit rose as higher earnings at French pay-TV operator Canal Plus made up for declining income at Universal Music Group.
Profit excluding one-time gains and some costs rose 0.3 percent to 757 million euros ($1.1 billion) from 755 million euros a year earlier, the Paris-based company said in a statement yesterday. Vivendi repeated a forecast for full-year earnings growth similar to that of 2007 and confirmed it plans to pay a dividend of at least 50 percent of adjusted net income.
Canal Plus's earnings improved for a fourth straight quarter, boosted by subscriber gains since buying Television Par Satellite last year to become the country's sole pay-TV company.
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