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Stocks V / Vivendi SA ADS


Subject:  Results Date:  9/24/2003  7:59 AM
Author:  tennjed33 Number:  111 of 121

Encouraging improvements

First-half net loss improves as Vivendi trims assets

French media conglomerate Vivendi Universal reported a net loss of euro632 million (US$723 million) Wednesday for the first half of 2003, a sharp improvement from the same period last year amid a sell-off of assets to trim staggering debt.


Vivendi's operating profit dropped 27 percent in the first half of this year to euro1.68 billion ($1.92 billion), compared with euro2.29 billion ($2.62 billion) in the same period of 2002.

The drop in operating profit, which was better than analysts' expectations, is partly due to the slimming down of Vivendi's operations since the first half of 2002.


Current chairman Jean-Rene Fourtou said Wednesday he hopes the planned merger wit