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Three sees a 13 per cent boom in customers in the first half of 2012

Revenues soar to £918m
Thu Aug 02 2012, 12:12

NUMERICAL MOBILE NETWORK Three reported its first half 2012 earnings today, which see the operator reporting an uptick in customers.

In the six months up ended 30 June, Three saw a 13 per cent increase in customers to 8.4 million, and the network's revenue increased to £918m compared to £874m last year. The firm increased its earnings before interest and tax (EBIT) to £26m.

Although it all sounds fairly positive, Three saw its contract customer growth slow in the first half of 2012 to 382,000, although it saw an increase of 37,000 contract customers from the first quarter to the second quarter.

Three UK CEO Dave Dyson said, "We started 2012 as the UK's fastest growing network and we've seen that growth accelerate. Over the past 12-months we've added one million customers. Our clear focus on a network built for the internet and providing clear value is being rewarded as we build our reputation as the network of choice for smartphones."

Richard Woodward, CFO of Three added, "Our core market of contract handset customers is growing strongly and profitably. This is the key driver of our financial performance.

"Our market leading network economics allow us to deliver the data experience smartphone users increasingly demand and our focus on effective direct distribution channels has created a momentum we expect to maintain."

During the network's earnings call, Woodward remained coy about the firm's 4G plans. He said, "Ofcom has published it's latest statement on the 4G spectrum, which is a lengthy document.

"We're still working our way through it. Of course, there's a number of different outcomes, but we need to analyst it fully before commenting." µ


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