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UK's EE Quarterly Revenues Fall While Customer Base Shrinks

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UK based mobile network, EE has reported that its first quarter revenues fell by 5.4 percent, which it put down to a combination of the local economic factors and regulatory cuts.

The company posted a revenue of £1.42 billion for the three months to the end of March.

The firm also confirmed that it has now signed up 318,000 customers to its LTE service, and aims to have 1 million customers by the end of this year.

EE added 166,000 net new postpaid customers, but prepay customer base shrank by 571,000, leading to a net loss of customers for the company as a whole. The company ended the quarter with 26.44 million customers - a decline of 2.9% over the year.

Neal Milsom, Chief Financial Officer of EE, commented: "Today's results are in-line with our expectations, and we are making good progress focusing on high value segments."

In the quarter the mobile network decommissioned 548 redundant base stations, bringing the total number to 3,207 since the integration of the separate T-Mobile and Orange networks since the two firms were merged to form EE.

The company is jointly owned by Deutsche Telekom and France Telecom.

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Tags: ee  UK