Business & Finance

Vivendi posts 9.4pc rise in 2011 net profit

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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.

Copyright Reuters, 2012