Media group Vivendi increases its profit
The French media and telecommunications giant Vivendi increased its profit to 2.83 billion euros in 2007. Part of this profit increase will be distributed in the form of a higher dividend. The company believes it can increase its earnings once again in the current year.
The French media and telecommunications giant Vivendi increased its profits in the past financial year. Adjusted net income rose from 2.61 to 2.83 billion euros compared to the previous year. Earnings before interest, taxes and goodwill amortization (EBITA) increased from 4.37 to 4.72 billion euros, as the company announced on Friday, according to SDA. The result was supported by the Moroccan telecommunications and pay-TV division. Vivendi achieved a turnover of around 19.5 billion euros. Shareholders are to participate in the profit increase in the form of a dividend increased by 8.3 percent to 1.30 euros per share. The Group believes that it will be able to increase earnings once again in the current year. Vivendi owns the world's largest record companyUniversal Music Group and the French television channel Canal+, among others. Vivendi also controls France's second-largest mobile phone provider SFR.
