Three UK's Annual Revenue Surpasses £2 Billion for First Time
Published on: 28th Feb 2014
Note -- this news article is more than a year old.
Hutchison 3G UK has reported a doubling of its underlying operating profit in 2013, as the mobile network operator's revenue passed the £2 billion (USD3.4 billion) mark for the first time.
The company posted an operating profit of £207 million on revenue of £2.044 billion.
Three added 565,000 new customers in 2013, driven by a 12% increase in contract customers. Three now has 7.9 million active customers.
Following the phased launch of its 4G network which started in December 2013 all of Three's customers are now on a 4G tariff.
Around 1.7 million customers are already using a 4G device and the transition to 4G for Three's customers is reflected in strong growth in 4G usage.
4G sites are already live in 36 large towns and cities including London, Birmingham, Manchester, Reading and Liverpool. Three is on track to have 4G live in 50 cities and over 200 towns by the end of the year and 4G will cover 98% of the population by the end of 2015.
Richard Woodward, Chief Financial Officer, said: "2013 saw Three become a bigger and more profitable business, driven by a focus on giving customers what they want."