KIEV, March 7 ??“ UkrTelekom, the national phone company, said Tuesday it net profits fell 31.6% to 519 mln hryvnias in 2005 reflecting greater spending on Internet and other services.

UkrTelekom said its revenues increased 7.6% on the year to about 7.75 bln hryvnias in 2005 as more money has been raised from traditional phone charges but also from new services, such as Internet.