Vivendi 2006 Net Adjusted Profit Up 18%
French media and telecoms group Vivendi posted an 18% rise in adjusted full-year net profit to 2.61 billion euros ($3.4 billion), boosted by its games, French mobile and pay-TV units and by Maroc Telecom.
In results published on Wednesday the company met expectations of around 2.62 bilion euros, based on a Reuters poll of 10 analysts.
The group confirmed its 2007 and 2011 targets of adjusted net profit of at least 2.7 billion euros and between 3.5 billion and 4 billion euros respectively.
"In 2007, we expect to exceed the records set in 2006, despite the exceptional charges associated with the creation of Canal Plus France and French regulations in the mobile sector," Chief Executive Jean-Bernard Levy said in a statement.
Vivendi also met investors' expectations by lifting its dividend 20% to 1.20 euros a share for 2006, equal to 53% of the net adjusted profit.
Vivendi made a net profit of 4 billion euros, beating a forecast of 3.63 billion euros based on the Reuters poll. Earnings before interest and tax (EBIT) rose 16% to 4.15 billion euros.