UPDATE 1-Vivendi keeps 2008 goals, Q3 EBITA falls 4 pct

Thu Nov 13, 2008 5:17pm GMT
 
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* Q3 EBITA 1.281 bln eur

* Q3 revenue 6.509 bln eur

* Keeps 2008 targets, confirms dividend policy

* Sees 5.5 bln eur in available credit lines at end-2008

(Adds detail, Q3 figures)

PARIS, Nov 13 (Reuters) - Europe's largest entertainment group, Vivendi (VIV.PA), kept its 2008 financial goals on Thursday despite the global economic crisis and confirmed its policy to grow the dividend.

The owner of Universal Music Group, the world's biggest record company, and French mobile operator SFR reported a 4 percent drop in third-quarter earnings before interest, tax and amortisation (EBITA) to 1.281 billion euros ($1.6 billion) as restructuring charges tied to acquisitions weighed.

Revenue rose 20.1 percent to 6.509 billion euros, bolstered notably by the purchases of fixed-line operator Neuf Cegetel and Activision Blizzard, the world's largest video games company.

The figures were above the average forecasts of 1.217 billion euros for EBITA and 6.496 billion for revenue in a Reuters poll of eight analysts.  Continued...

 

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