Three delivers Q1 revenue of £582 million

Three UK has published an update for the first quarter of 2022 showing a strong performance across key divisions total revenue at £582 million.

The company’s latest financial report also showed strong growth in Three UK’s contract base, up 5 per cent YoY with significant growth in the company’s SMARTY, home broadband and business divisions. In addition, contract churn reduced in Q1 2022 down to 1.1 per cent, with the company citing strong retention initiatives.

Capex spend was 7 per cent higher due to significant network investment in the year as Three UK continues the rollout of 5G and to enhance the performance of its 4G network

Robert Finnegan, chief executive of Three UK, 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. I’d like to take this opportunity to thank everyone at Three for their hard work.”

Three UK’s 5G coverage now reaches more than one third of the UK population across 370 towns and cities, with more than 2,800 sites live.

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Charlotte Hathway

Charlotte is the editor of Comms Business and writes about the latest technology innovations and business developments across the Channel. Got a story? Get in touch – charlotte.hathway@markallengroup.com.

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