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Vivendi Q2 profit lower on SFR pressure
August 29, 2013 / 5:47 AM / 4 years ago

Vivendi Q2 profit lower on SFR pressure

PARIS, Aug 29 (Reuters) - France’s Vivendi experienced continued pressure at its SFR telecom unit in the second quarter and posted financial results on Thursday shorn of two business units sold in the quarter.

Video games maker Activision Blizzard and Maroc Telecom, which were sold as part of the group’s revamp to pay down debt and focus on media, are now listed as income from discontinued operations to conform with accounting rules.

Vivendi’s second-quarter sales fell 0.5 percent to 5.43 billion euros ($7.24 billion), while earnings before interest, tax and amortisation (EBITA) fell nearly 20 percent to 762 million largely because of competition at SFR.

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