(Telecompaper) Vivendi reported a 4.6 percent drop in fourth-quarter revenues to EUR 5.95 billion, as its French telecom operator SFR continued to suffer from tough competition. Canal Plus increased sales 7.2 percent to EUR 1.45 billion, while SFR revenues were down 7.1 percent to EUR 2.58 billion. Universal Music posted a 9.3 percent drop in sales to EUR 1.49 billion, and Brazilian operator GVT's revenues fell 5.1 percent to EUR 412 million, with both units hurt by negative forex effects. Vivendi's adjusted EBITA was up 1.0 percent to EUR 312 million, helped by lower operating costs and a reduction in restructuring charges. Adjusted net profit improved to EUR 292 million from EUR 105 million a year earlier, following the sale of most of its games unit Activision Blizzard. Maroc Telecom, which is planned for sale to Etisalat, is excluded from the net result. On a reported basis, the net result improved to a profit of EUR 556 million versus a loss of EUR 1.48 billion a year ago. This includes EUR 2.92 billion from the Activision sale, offsetting impairment charges of EUR 2.43 billion on SFR. Vivendi reduced net debt to EUR 11.1 billion at year-end, compared to EUR 13.4 billion in 2012, thanks to divestments. The company reiterated its intention to focus on the media and content market and said it's pursuing all potential opportunities to participate in consolidation in the French telecom market.