French communications group Vivendi has posted a 67% increase in first-half profits, with a 16% rise in sales.

The €1.4 billion uplift, comparable to the company’s total profits in 1999, was announced as Vivendi chairman Jean-Marie Messier initiated corporate governance reforms in the run-up to the company’s merger with Canadian entertainment firm Seagram.

Messier claimed that Vivendi would become a “European benchmark” in shareholders’ rights.

News source: Financial Times