Vivendi ups forecast as profit rises

MEDIA giant Vivendi has raised its forecast for 2010 after reporting a four per cent rise in first-half profit.

Vivendi saw a net profit of 1.53bn euros (£1.26bn) in the first six months of the year, up from the 1.47bn euros it made a year ago.

But the comnow expects 2010 profit to exceed the 2.59bn euros it made in 2009.

Revenues at French telecom operator SFR, 56 per cent-owned by Vivendi, rose 1.8 per cent.

Vivendi's latest acquisition, Brazilian fixed-line telecom operator GVT, also posted strong growth.

However revenues at its Universal Music Group – whise artits include Lady Gaga abd Eminem – dropped by 5.4 per cent.