French media company VivendiUniversal today posted a narrower first-half net lossthanks to fewer exceptional charges and rising operating profitsat its telecoms and pay television units.
The company, which has been divesting assets to cut debt andis in the midst of selling its US entertainment assets,reported a net loss of €632 million compared to ayear-earlier loss of €12.31 billion.
The figure was worsethan the 533 million loss expected by analysts.
The company's size and shape has changed since the firsthalf of 2002, making comparisons difficult, but the companyreported a forecast-beating first-half operating profit of €1.677billion which it said was up 20 per cent on a pro formabasis.
Analysts had predicted a first half operating profit of€1.571 billion.