Arab Today, arab today french media giant vivendi reports profit slump
Last Updated : GMT 18:42:31
Arab Today, arab today
Arab Today, arab today

French media giant Vivendi reports profit slump

Arab Today, arab today

Arab Today, arab today French media giant Vivendi reports profit slump

Paris - AFP

French telecoms and entertainment group Vivendi reported a big profit fall on Wednesday and said it was lowering its target for 2011 after France raised taxes to tackle its budget deficit. In a statement on its third-quarter results, Vivendi said it was targeting net profits this year of 2.85 billion euros ($3.38 billion), down from a previous target of more than 3.0 billion euros. Vivendi said it estimated the new French tax rules would cost it about 350 million euros this year. In the third quarter, the group said net profits fell 35 percent on a 12-month comparison to 241 million euros and sales fell 1.6 percent to 6.77 billion euros. Vivendi shares were showing a gain of 4.65 percent to 16.20 euros on Paris\'s benchmark CAC 40 index in mid-morning trading, since the results were better than some traders had expected. The sales drop was due mainly to difficulties at Vivendi\'s French telecom operator SFR, where revenues fell 3.6 percent to 3.01 billion euros, and at Moroccan subsidiary Maroc Telecom, where revenues dropped 6.2 percent to 698 million euros. The group nonetheless confirmed an increase of dividend per share for 2011. It also increased its forecast for 2011 adjusted net profits by 200 million euros, at constant tax levels, thanks to \"the operational performance and favourable impact of the group\'s new organisation,\" financial director Philippe Capron told a conference call. Last week, Vivendi announced it will buy British music label EMI from US bank Citigroup for 1.4 billion euros to expand its Universal Music Group (UMG). UMG\'s revenues fell 4.7 percent in the third quarter to 979 million euros as an 11.3-percent increase in digital music sales and higher license income \"only partly offset a lower demand for physical products,\" the group said. Vivendi also announced it had sold 35 million shares in its video game affiliate Activision Blizzard, lowering its stake in the company from 63 to 60 percent. The move came as Activision Blizzard saw third quarter revenues fall 7.6 percent to 533 million euros. But Vivendi said it was raising its outlook for Activision Blizzard\'s EBITA earnings to 850 million euros for 2011 following the strong launch of its \"Call of Duty: Modern Warfare 3\" title, which recorded sales of more than $400 million in North America and Britain in its first 24 hours of release. Vivendi\'s Brazilian telecom subsidiary GVT bucked the trend of falling revenues, seeing a 37.2 percent increase to 395 million euros. The group\'s French pay-TV unit Canal+ Group also saw revenues rise 3.0 percent to 1.17 billion euros.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today french media giant vivendi reports profit slump Arab Today, arab today french media giant vivendi reports profit slump

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Egyptian tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Egyptian tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 19:03 2017 Friday ,24 February

PJD Slams Assabah Newspaper over Allegations

GMT 15:42 2017 Thursday ,23 February

Information Minister delivers lecture at RCSC

GMT 14:13 2017 Thursday ,23 February

International media conference concludes

GMT 19:28 2017 Tuesday ,21 February

McCain criticizes Trump over continued media attacks

GMT 10:17 2017 Tuesday ,21 February

Dh56,000 of fines for illegal adverts around Abu Dhabi

GMT 15:27 2017 Monday ,20 February

Trump calls media ‘enemy of American people’

GMT 06:48 2017 Saturday ,18 February

Dominican journalists shot dead during live broadcast
View News in Arabic - Media: آخر الأخبار
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday