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Three UK reports “encouraging” first quarter YoY growth

Paul Lipscombe
May 6, 2021

Revenue for the first quarter hit £581m

Three UK has reported its first quarter revenue has grown two per cent year-on-year for 2021 Q1.

The operator posted revenue of £581m during the first quarter of this year, compared to £570m for the same period in 2020.

The results have been called “encouraging” by Three UK CEO Robert Finnegan, who also revealed that Three’s 5G network is now live in 193 towns and cities.

Margin also grew slightly YoY, up one per cent, while net AMPU grew three per cent.

According to Three UK, its contract base grew five per cent, with “significant” growth coming from its MVNO SMARTY.

However due to Covid-19 restrictions causing a reduction of prepay customers, the total number of active customers dropped 6.5pc YoY.

Commenting on the results, Finnegan said: “This is an encouraging set of results for the quarter. Three UK has shown significant resilience and I’m really pleased to see the growth in some of our key business units and in our contract base.

“We continue to make good progress on our mission to provide better connectivity every day, for every Three UK customer.”

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