(Telecompaper) French media and telecommunications group Vivendi reports revenues of EUR 5.99 billion for the second quarter of this year, an increase of 15.1 percent and of 17.4 percent at constant currency when compared to the second quarter 2007. The EBITDA grew by 3.2 percent and 4.2 percent at constant currency when compared to the second quarter 2007 to EUR 1.36 billion in the second quarter of this year and the quarterly net profit grew by 0.3 percent year-on-year to EUR 757 million. The net profit stabilised as higher earnings at its Canal+ pay-TV operations offset a decline in profitability at its SFR mobile operator business. All Vivendi's business divisions reported growth in EBITA in the quarter except SFR and Universal Music, where the euro's strength weighed on sales. Vivendi CEO Jean-Bernard Levy said that Vivendi closed two strategic transactions: the acquisition of Neuf Cegetel by SFR and the creation of Activision Blizzard, the global leader in video games publishing, in which Vivendi holds a 54 percent stake.He also said that Vivendi completed these two major transactions under conditions rendering a rights issue, announced in December 2007, unnecessary, while the company confirms its full year outlook, expecting to deliver profit growth similar to 2007, at constant perimeter (other than Neuf Cegetel and Activision) and its intention to maintain, in 2009, a distribution rate of at least 50 percent of the adjusted ...
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