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Three UK reports strong customer growth in latest results

Saf Malik
August 5, 2021

Revenue up 5pc

Three UK’s customer base increased six per cent year-on-year as the company posted positive half-year results. 

Revenue was also up five per cent to £1.17 billion. 

Three UK credits strong performances in Wholesale, SMARTY, Home Broadband and Business as well as an increase in its active contract customer base.

Home Broadband customers increased by 33 per cent year-on-year and Three Business customers more than doubled in H1. 

Total margin increased one per cent to £719 million despite difficult trading conditions. 

Fresh off of being awarded the UK’s fastest 5G network by Ookla, Three said an additional 600 sites have been built and are being prepared for go-live.

This comes after the purchase of purchase of two 10MHz blocks of 700MHz spectrum which has tripled its low frequency spectrum holding, and company CFO Darren Purkis says Three now has a “market leading portfolio” for 5G.

“We are now in a position where we have a good amount of spectrum and hold a market leading position,” he said.

“We are trying to get 5G out there and we have incremental business opportunities, and this is based around having the best and fastest 5G network.”

Three UK chief executive Robert Finnegan added: “I am really pleased with this set of results. We are making good progress on our strategic objectives and our mission of providing better connectivity, every day for every customer.

“I am particularly encouraged by the growth in our customer numbers which we have delivered despite the ongoing challenging market conditions.

“Looking ahead, we are investing heavily in transforming our Network and IT infrastructure. Our rollout of our 5G network is continuing at pace with 5G now live in 300 locations.

“I’d like to take this opportunity to thank all my colleagues for their contribution and their continued commitment to the business.”

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