City news anyone? Well, here goes. More good news for the Vivendi group in the form of a financial report for the first half of 2005 at the Universal Music Group.
High profile releases from 50 Cent, The Game and Mariah Carey all helped the major record company boost its second quarter earnings by 12% compared to the same period last year. Net income was up from 658 million euros to 758 million euros.
Half year earnings were also up compared to the previous year - 1.79 billion euros this year compared to 1.4 billion euros in the first half of 2004.
Vivendi said that higher sales volumes, better margins and reduced restructuring costs had all helped the improve Universal Music's financial success in the last year.