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Three UK reports slight growth in key areas in Q1 2022

Megan Robinson
May 5, 2022

Capex spend is up 7pc due to network investment as the company continues to rollout 5G and enhance 4G network

Three UK has published its results for the first quarter of 2022, revealing total revenue flat year-on-year.

Total revenue reached £582m in Q1 2022 vs £581m in Q1 2021, meanwhile total margin increased by one per cent to £365m, compared to £359m YoY.

Three UK has seen a strong growth in contract base YoY, with a rise of 5pc and significant growth in SMARTY, Home Broadband and Business.

Due to strong retention initiatives in Q1 2022, contract churn is at 1.1pc.

Three UK chief executive Robert Finnegan said: These results are a very encouraging start to the year. 

“We’re continuing to make strong progress in all areas of our business, with SMARTY, Home Broadband and Business all going from strength to strength.

“Our network improvements are supporting this growth, and we now cover more than a third of the UK’s population and have the fastest 5G network as rated by Ookla. 

“Our continued investment is enabling our customer experience improvements.”

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