Earnings rise is music to the ears of Vivendi

VIVENDI, Europe's largest entertainment group, has posted a 3.2 per cent rise in second-quarter underlying earnings.

Vivendi, which also owns the world's biggest record company, Universal Music Group, saw its underlying earnings rise from £1.07 billion to £1.1bn, and said it still expected to deliver 2008 profit growth similar to 2007.

That will be helped by the exclusive, long-term worldwide agreement signed by Universal Music with the Rolling Stones in July.