Vivendi on Track to Meet Financial Forecasts

French media company Vivendi Universal, citing better results at its telecom, television and film units, reported strong gains in revenue and pretax profit in a preliminary earnings report, putting it on track to meet financial forecasts. Vivendi reported a 57% rise in earnings, before interest, tax, depreciation and amortization, to $1.14 billion. Profit at its film and TV unit nearly tripled, thanks to the success of “The Mummy Returns.” International ticket sales for the movie have topped the $400-million mark.

In music, pretax earnings rose 17% amid strength in its U.S. and Japanese markets.

Vivendi’s revenue rose 14% to $5.75 billion, from $5.05 billion. The preliminary earnings report did not include net figures, which will be reported in late September.

For the first half of 2001, revenue rose 12% to $10.86 billion, from $9.66 billion last year, while earnings before interest, tax, depreciation and amortization rose 76% to $1.93 billion, from $1.09 billion.

Vivendi reported its year-ago figures as if the company had already been merged. Vivendi Universal was formed in a merger last year between Seagram Co. of Canada and Vivendi, a media and water utility conglomerate.