Portuguese telecoms company ZON Multimedia said its first-quarter net profit more than halved on the year as the comparative 2009 figure was boosted by a pre-tax capital gain of EUR16.9 million (USD21.5 million) from the sale of a 40% stake in Lisboa TV. Zon said its 1Q net profit was EUR9.3 million, compared to a year-ago net profit of EUR19.5 million. Operating revenue increased 8.2% on the year to EUR213.5 million, reflecting growth in the core pay-TV, broadband and voice businesses.
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