January 11, 2018 / 7:43 PM / 6 months ago

Vivendi lowers outlook for 2017 revenues, EBITA

PARIS (Reuters) - Acquisitive French media conglomerate Vivendi (VIV.PA) on Thursday trimmed its revenue and core earnings (EBITA) forecasts for 2017.

FILE PHOTO - A logo is seen over the main entrance of the entertainment-to-telecoms conglomerate Vivendi's headquarters in Paris April 8, 2015. REUTERS/Gonzalo Fuentes

The group said in a statement it expected revenues to increase close to 5 percent in 2017, compared with a previous forecast of more than 5 percent. It did not explain the change.

It said EBITA (earnings before interest, tax and amortisation) would rise between 20 and 25 percent, compared with a November estimate of around 25 percent. It said the revision was down to a 40 million euro (£35.6 million) restructuring cost at its Canal+ Group unit.

Reporting by John Irish and Benjamin Mallet; Editing by Mark Potter

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