VIVENDI REBOUNDS WITH QUARTERLY NET PROFIT.

From: Tech Europe | Date: December 9, 2003 | Copyright information

France's Vivendi Universal, rebounding after more than a year in disarray, on December 2 reported its first net profit since a new management team was brought in to resurrect the media and telecoms company. Vivendi, which has been divesting assets to cut debt, swung to a third-quarter net profit of Euro 131 million from a loss of Euro 1.23 billion thanks to earnings increases at most of its units, an exceptional gain and smaller losses related to running the holding company.

Operating profit rose 43% on a pro forma basis to Euro 896 million, well ahead of a consensus analyst ...

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