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Three aims to double customer base to 20 million in next five years

Jasper Hart
September 17, 2019

Three posted revenue of £1.167 billion for the first half of this year

Three UK is aiming to double its profits and customer base in the next five years as it looks to dominate the 5G era.

These ambitions were outlined by CEO Dave Dyson, speaking to Mobile News at the launch of the operator’s 5G broadband service on August 19.

Dyson says the operator has the best 5G network, with the largest amount of spectrum among the big four. Three currently holds 100MHz of spectrum, while Vodafone has 50MHz, and O2 and BT (EE) 40MHz each.

“In the medium term, we want to double the size of the business, double revenue, profitability and probably customers,” said Dyson. “Realistically, to go from 10 million customers to 20 million is going to take at least five years.

“We are becoming more multi- branded and multi-product. We’ve got the Smarty [MVNO] brand, we sell through Superdrug and iD Mobile; we’re also looking at IoT and B2B is looking interesting.”

Amid its 5G preparations, the first half of 2019 saw Three rake in £1.167 billion in revenue, a drop of two per cent year-on-year, while EBITDA was £334 million. Capital expenditure increased 23 per cent to £155 million.

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