VUI Reveals First-Half Loss

Officials from Vivendi Universal Interactive have released the division’s first half-year results for the period thatended June 30. During this time the company reported revenues of €240 million ($275m), down 29% from the same period last year. A huge operating loss of €52 million ($60m) was also recorded, compared to a previous income of €39 million ($45m). A company spokesman blamed the poor results on "significantly higher returns and price protection in the first half of 2003". This news is likely to make the proposed sale of the division – to any one of a number of previously mooted suitors – much less likely.