Vivendi Universal reports tripling of quarterly profit

0 Comments | AFP, September, 2005

PARIS (AFP) — French media group Vivendi Universal said its net earnings in the second quarter had more than tripled to 640 million euros (786 million dollars) from 182 million in the same period of 2004 and predicted it would surpass its income target for all of 2005.

With the exception of cable news unit Canal Plus, all of Vivendi's divisions reported quarterly gains in operating earnings.

In the first six months of the year net profit surged to 1.162 billion euros from 344 million in the January-June period of 2004, while operating profit rose 34 percent in first half to 1.994 billion euros.

"Vivendi Universal is in great shape and reflects its potential in a now stable environment," chief executive Jean-Bernard Levy said Tuesday.

"We will now...