Vivendi posts 2.61 billion euro annual net profit

0 Comments | AFP, March, 2007

PARIS (AFP) — French media and telecommunications giant Vivendi on Wednesday reported full-year adjusted net profit of 2.61 billion euros (3.43 billion dollars), up 17.9 percent from a year earlier.

The 2006 result exceeded guidance and a consensus forecast of 2.58 billion euros, amid strong gains in its main business areas.

The company predicted a further improvement in 2007, despite anticipated exceptional charges, with an adjusted net profit of at least 2.7 billion euros.

It plans a 20 percent rise in its full-year dividend payout for 2006 to 1.20 euros.

Vivendi chief executive Jean-Bernard Levy said all of the company's businesses were developing on track and exceeding its forecasts, and that it wants to strengthen them with targeted acquisitions...