* PolyGram, the Anglo-Dutch entertainment company, said...

* PolyGram, the Anglo-Dutch entertainment company, said Tuesday that its first-half net income rose 15%, reflecting gains in its music division and continued losses in its fledgling film business.

The company, 75% owned by Dutch electronics company Philips, reported net income for the six months ended June 30 of $174 million, up from $150.8 million a year earlier, but shy of analysts’ consensus estimate of $175.9 million. Sales rose 11% to $2.59 billion.

“PolyGram believes it is on course for a further year of progress in sales and profits,” the company said in a statement, noting that it has a strong pop release schedule for the second half and 12 mainstream English-language films ready for release.