January 12, 2018 / 8:17 AM / 2 months ago

Vivendi shares fall after company lowers guidance over 2017 results

PARIS, Jan 12 (Reuters) - Vivendi’s shares fell on Friday after it lowered its 2017 full-year guidance on core operating profit and revenues, penalized by higher restructuring costs tied to its pay-TV unit Canal Plus.

The group, led by billionaire Vincent Bollore, was the worst performer on France’s benchmark CAC-40 stock market index, dropping by around 3 percent in early trading.

Vivendi said late on Thursday that it expected revenues to increase by close to 5 percent in 2017, compared with a previous forecast of more than 5 percent.

It said earnings before interest, tax and amortisation (EBITA) would rise between 20 and 25 percent, compared with an earlier target of about 25 percent.

Shares in Bollore’s holding company also fell by 1.8 percent. (Reporting by Mathieu Rosemain; Editing by Sudip Kar-Gupta)

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