PARIS: French media and telecoms conglomerate Vivendi Universal has reported a 10.9% rise in adjusted net income for the first half of the year.

The company, which has just successfully bid €1.63 billion ($2.09bn; £1.1bn) to acquire Bertelsmann-owned BMG Music Publishing [WAMN: 06-Sept-06], says underlying profits rose to €1.38bn against €1.24bn from the same period a year earlier as it benefited from a "substantial improvement in operating performance" across the group.

It expects adjusted net income for the year to rise "at least" 16% and chairman Jean-Bernard Lévy, comments: "Our outlook for the next five years provides ample proof of our strengths and potential. We have every reason to be confident in our future."

Data sourced from Financial Times online; additional content by WARC staff