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Vivendi says profit growth to resume in 2014
March 1, 2012 / 6:16 AM / 6 years ago

Vivendi says profit growth to resume in 2014

PARIS, March 1 (Reuters) - Vivendi Chief Executive Jean-Bernard Levy sees pressure on earnings this year and next as the company battles with tougher competition in its domestic mobile market, with profit growth not resuming until 2014.

“In France in particular, the excessively favorable conditions granted to the new mobile operator by the regulator, the state and the incumbent operator, lead SFR to reconsider very carefully its commercial offers and its cost base,” Levy said in a statement on Thursday.

“These efforts to adapt will place increased pressure on Vivendi’s results in 2012 and 2013 ... Profit growth should resume in 2014,” helped by acquisitions made in the last two years and expansion in emerging markets, the CEO added. (Reporting by James Regan; Editing by Caroline Jacobs)

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