UK Based EE Revenues Fall on Regulatory Cuts

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UK based mobile network operator EE has reported a slight drop in its fourth quarter revenues even as it added more higher spending LTE subscribers.

The company said that revenues fell to £1.64 billion for the last three months of 2013, from £1.67 billion a year earlier.

EE added 816k new 4G subscribers, taking its total past the 2 million mark. The total customer base however shrank by 3.8% to 27.15 million, mainly due to reductions in the prepay customer base.

Olaf Swantee, Chief Executive Officer of EE, commented: "We successfully executed our strategy, growing our pay monthly base, delivering our targeted cost savings and achieving our best margin yet, all while cementing EE's position as the UK's best network for consumers and businesses alike."

In the second half, the company paid £269m in dividends to its two shareholders, Deutsche Telekom and Orange.

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