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French entertainment giant Vivendi says 1H adjusted net profit at euro1.53 billion

French entertainment giant Vivendi says 1H adjusted net profit at euro1.53 billion

Entertainment and telecom conglomerate Vivendi said Friday its first-quarter net profit dropped 49 percent, but that it was sticking to its 2007 outlook of achieving an adjusted net income of above euro2.7 billion (US$3.7 billion).
Net profit at the French company fell to euro594 million (US$810 million) from euro1.15 billion a year earlier. Last year's comparison figure was inflated by the gains on the sale of Vivendi's shares in chemicals company DuPont Co. for nearly US$700 million (euro512 million).
Vivendi also reported a first-half adjusted net profit of euro1.53 billion (US$2.08 billion), up 11 percent from euro1.38 billion a year earlier. The figure was below an average euro1.69 billion (US$2.30) forecast from five analysts polled by Dow Jones Newswires.
Adjusted net profit excludes certain charges such as impairment of goodwill and income from discontinued operations.
Paris-based Vivendi is the owner of Universal Music Group, the world's biggest music company, Canal Plus television, Vivendi Games and telecom operators SFR and Maroc Telecom.
Vivendi confirmed its full-year guidance for 2007, saying it expected an adjusted net income of at least euro2.7 billion (US$3.7 billion).


Updated : 2021-07-27 08:31 GMT+08:00