February 15, 2018 / 5:03 PM / 4 months ago

Vivendi full-year core operating profit rises 23 pct, driven by music division

PARIS, Feb 15 (Reuters) - Vivendi’s core operating profit jumped by 23 percent over the last year, driven by the strong performance of its music division and the start of a recovery at its pay-TV unit.

Earnings before interest, tax and amortisation (EBITA) amounted to 987 million euros ($1.23 billion) on total revenues of 12.4 billion euros, up 4.9 percent from a year earlier.

The group, led by billionaire Vincent Bollore, did not provide yearly group targets but said it expected its pay-TV division Canal Plus to yield 450 million euros in EBITA in 2018.

Vivendi also said it would raise its dividend by 12.5 percent to 0.45 euros per share.

$1 = 0.8013 euros Reporting by Mathieu Rosemain and Gwenaelle Barzic Editing by Sudip Kar-Gupta

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