|
The
company, with a cash pile of nearly 9 billion euros ($10.2
billion), said it would be on the look-out for bolt-on
acquisitions and possibly bigger deals.
"We are not interested in short-term strategies", chairman of
management board Arnaud de Puyfontaine told analysts in a
conference call. "We are shaping a new Vivendi", he said.
Vivendi is narrowing its focus on television and music after
selling assets over the past year including stakes in Telefonica
Brasil <VIVT3.SA> and French operator SFR, now called
Numericable-SFR <NUME.PA>.
Adjusted net profit rose 34 percent to 193 million euros in the
second quarter, while total sales were up 9 percent to 2.6
billion euros.
Citi Research analysts were expecting adjusted net income of 199
million euros.
Sales at Universal Music surged 19 percent to 1.2 billion euros
after a 11.6 percent increase in the first quarter.
Puyfontaine said these figures were putting the company on track
to meet its financial targets in 2015. Vivendi hopes to see
revenue increase slightly this year thanks to continued growth
at Universal Music and premium cable TV channel Canal +.
"Depending on global stock market developments, the group may
also consider implementing the share repurchase program
authorized by Vivendi’s general shareholders’ meeting of April
17, 2015," Vivendi said in a statement.
Shares in Vivendi closed up 0.25 percent at 21.72 euros.
(Reporting by Matthias Blamont and Joseph Sotinel; Editing by
Mark Potter)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
|
