Vivendi profit boosted by higher earnings at Canal Plus

Vivendi SA's second-quarter profit rose as higher earnings at French pay-TV operator Canal Plus made up for declining income at Universal Music Group.

Profit excluding one-time gains and some costs rose 0.3 percent to 757 million euros ($1.1 billion) from 755 million euros a year earlier, the Paris-based company said in a statement yesterday. Vivendi repeated a forecast for full-year earnings growth similar to that of 2007 and confirmed it plans to pay a dividend of at least 50 percent of adjusted net income.

Canal Plus's earnings improved for a fourth straight quarter, boosted by subscriber gains since buying Television Par Satellite last year to become the country's sole pay-TV company.