* Q2 profit up 34 percent to 193 million euros
* Strong sales growth at Universal Music
* Group says net cash close to 9 billion euros
* 2015 outlook confirmed (Adds detail)
PARIS, Sept 2 (Reuters) - French media group Vivendi reported higher second-quarter profit on Wednesday, helped by strong growth in its Universal Music division, and said recent asset sales could enable it to consider more acquisitions in the future.
The company, with a cash pile of nearly 9 billion euros ($10.2 billion), said it would be on the look-out for bolt-on acquisitions and possibly bigger deals.
“We are not interested in short-term strategies”, chairman of management board Arnaud de Puyfontaine told analysts in a conference call. “We are shaping a new Vivendi”, he said.
Vivendi is narrowing its focus on television and music after selling assets over the past year including stakes in Telefonica Brasil and French operator SFR, now called Numericable-SFR.
Adjusted net profit rose 34 percent to 193 million euros in the second quarter, while total sales were up 9 percent to 2.6 billion euros.
Citi Research analysts were expecting adjusted net income of 199 million euros.
Sales at Universal Music surged 19 percent to 1.2 billion euros after a 11.6 percent increase in the first quarter.
Puyfontaine said these figures were putting the company on track to meet its financial targets in 2015. Vivendi hopes to see revenue increase slightly this year thanks to continued growth at Universal Music and premium cable TV channel Canal +.
“Depending on global stock market developments, the group may also consider implementing the share repurchase program authorized by Vivendi’s general shareholders’ meeting of April 17, 2015,” Vivendi said in a statement.
Shares in Vivendi closed up 0.25 percent at 21.72 euros.
$1 = 0.8862 euros Reporting by Matthias Blamont and Joseph Sotinel; Editing by Mark Potter