French media giant Vivendi Universal said today its 2002 sales rose 6 per cent from the equivalent 2001 figure to €61 billion ($66 billion) thanks to growth in its telecom business.
Vivendi said full-year sales, excluding businesses sold in 2002, rose 11 per cent to €28.1 billion.
The company started a vast asset sale programme last year aimed at slashing its crippling debt-load.
Sales from the telecoms unit Cegelt/SFR unit rose 11 per cent to €7.1 billion, reflecting a strong performance by its mobile and fixed-line telephone businesses, the company said.
Sales from its media operations rose 27 per cent to €6.3 billion in the period, largely due to the acquisition of USA Networks in May. On a pro forma basis, or without the contribution of USA Networks, increase was only 2 per cent.
Its Canal Plus pay-television unit had sales of €4.8 billion in the period, 6 per cent higher than the figure for the previous year.
AFP