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Telecom Egypt’s Q1 profit falls 10%

Egypt's fixed-line telephone monopoly, Telecom Egypt has reported a 19% fall in first-quarter profit after communications services were disrupted by anti-government protests, Bloomberg has reported. "Our revenues have been impacted by the extenuating circumstances in our domestic market; in particular the voice revenues derived from business customers and the international call revenues," TE's chairman Akil Beshir said in a statement. Net income fell to EGP892m ($150m) from EGP992m in a year earlier,while revenue dropped to EGP2.4bn from EGP2.5bn, the firm said.