Vivendi raises full-year profit goal on games strength

PARIS Tue Nov 13, 2012 11:56am EST

PARIS Nov 13 (Reuters) - Entertainment-to-telecom group Vivendi raised its 2012 adjusted net income target to 2.7 billion euros ($3.43 billion)from 2.5 billion, saying business performance was offsetting the economic slowdown and a heavier tax environment.

Stronger sales at its video game unit Activision Blizzard are helping compensate for ongoing weakness at its largest unit, French telecom operator SFR, which has been hit by a new low-cost mobile player in its home market.

Vivendi added that it now expects SFR to post a decrease in full-year earnings before interest, tax, depreciation and amortisation (EBITDA) of close to 12 percent, against 12-15 percent predicted previously.