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Vivendi posts 9.4 pct rise in 2011 net profit
March 1, 2012 / 1:06 AM / in 6 years

Vivendi posts 9.4 pct rise in 2011 net profit

PARIS, March 1 (Reuters) - Europe’s largest telecoms and entertainment group, Vivendi, posted a 9.4 percent rise in full-year earnings, boosted by its GVT Brazilian telecom and Activision Blizzard video game units.

Adjusted net income, which was also boosted after the group took full ownership of its French SFR mobile business, reached a record 2.95 billion euros ($3.95 billion), Vivendi said.

Vivendi had cut its profit forecast in November to more than 2.85 billion euros, against 3 billion previously, because of a hike in corporate tax rates by the French government to help cut the national budget deficit.

The figures were released in an interview with Vivendi Chief Executive Jean-Bernard Levy published on the website of Les Echos newspaper on Thursday. ($1 = 0.7476 euros) (Reporting by James Regan; Editing by Phil Berlowitz)

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