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Vivendi profit falls 49% in 2nd quarter

September 01, 2007|From Times Wire Services

Entertainment and telecom conglomerate Vivendi reported that its second-quarter earnings fell 49% from a year earlier, when it had a gain from an asset sale.

Profit at the French company fell to $810 million from $1.57 billion a year earlier. Last year's figure was inflated by the sale of Vivendi's shares in DuPont Co. for nearly $700 million.

Chairman Jean-Bernard Levy reaffirmed the company's full-year earnings forecast of more than $3.7 billion.

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