Vivendi kept its 2008 profit goal and showed no cash requirements

Since Vivendi posted a rise in second-quarter underlying earnings, it equipped with a new contract with The Rolling Stones and its new Activision Blizzard gaming venture, kept its 2008 profit objective.

France’s second biggest mobile operator SFR and the world’s biggest record company- Universal Music Group’s owner stated that no acquisitions are pending and it can finance fresh deals without the aid of a rights issue.

Chief Executive Jean-Bernard Levy told that with the current balance sheet structure they can continue Vivendi’s expansion as they used less cash than anticipated. They need not to tap the market. Whereas previously in April Levy had said that the group might need between 1 billion and 2 billion euros.

The company includes British soul singer Amy Winehouse in its best selling artists. According to the company like profit growth of 8 percent of 2007 this year’s profit growth is still expected to be same.

Group income before interest, tax and amortization went up 3.2 percent to 1.36 billion euros for the second-quarter. However this growth rate is little few short than analysts forecast of 1.39 billion.