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Three UK reports revenues of £1.17bn in HY21

Robert Finnegan - Three UK.jpg

Three UK has published positive half year results with revenues up 5% to £1,17 billion.

The strong results are credited to a strong performance in Wholesale, Smarty, Home Broadband and Business as well as an increase in its 'active contract customer base'.

Specifically, Three's active contract customer base increased 6% year-on-year (YoY), adding almost half a million subscribers to bring total to 7.7 million.

SMARTY revenues increased by 154% as a result of the company's popular higher data plans during lockdown, and Home Broadband customers increased by 33% YoY. Additionally, Three Business customers more than doubled in for the period.

Overall, the company saw a net average revenue per user (ARPU) increase of +£0.24 reflecting the increased balance of contract to prepay customers. Three also saw its Capex (excluding Spectrum) increase 60% to £307 million as a result of increased investment in the network.

“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," said Robert Finnegan (pictured), chief executive of Three UK.

“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.”

At the same time, the company enhance customer experience though its win of the UK’s fastest 5G network by Ookla in H1 with media download speeds of 231Mbps and average data usage per customer, per month of 16.7Gb.

In addition, Three UK covers 30% of the UK’s outdoor population with 5G coverage and 99% with its combined 3G and 4G network and carries 29% of mobile data traffic in the country.

It also boasts 'the largest, dedicated 5G spectrum', as a result of the purchase of two 10MHz blocks of 700MHz spectrum which has tripled its low frequency spectrum holding.

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