Vivendi narrows Q1 loss

28 May 2004

Media and telecoms group Vivendi Universal has reported a loss of EUR6 million (USD7.3 million) for the first quarter of 2004, compared to a year-earlier loss of EUR319 million, thanks to its telecoms, movie and television businesses all turning a profit. Operating profit for the period rose 10% to EUR930 million, beating analysts forecasts of EUR896 million, while net debt stood at EUR11.6 billion. The company’s telecoms units – SFR in France and Morocco’s Maroc Telecom – generated an operating profit of EUR713 million, up from EUR630 million a year ago.