Friday, 27 April 2018

Three passes the 10m customer mark and posts strong financials for 2017

By Chris Kelly, Total Telecom
Monday 19 March 18

Revenues, profits and average margin per user were all up in 2017, as Three posts a robust set of full year financials

The UK's fourth biggest mobile operator, Three, has reached 10 million customers, according to its latest financial report.  The company's active customer base grew by 10 per cent to 10 million individual users during 2017…

The UK's fourth biggest mobile operator, Three, has reached 10 million customers, according to its latest financial report. 

The company's active customer base grew by 10 per cent to 10 million individual users during 2017. 

“I am pleased to have passed the 10 million customer milestone. Over the course of last year, we have strengthened our market-leading Go Roam proposition, launched Go Binge, our innovative unlimited streaming service, as well as our SIM-only, online-only sub brand SMARTY.  In addition, we have rapidly developed Wuntu, our customer loyalty and rewards app, which is highly rated and has already exceeded 1 million active users," said Dave Dyson, chief executive of Three UK.

During 2017, Three's customers used an average of 6.8Gb of data per user, per month. The company also reported its lowest ever contract handset churn rate of just 1.1 per cent.  

“We have invested significant time and money in the future growth and scalability of the business.  Our digital transformation is a programme of work that will significantly enhance customer experience, employee experience and cost efficiency.  Investment in spectrum, next generation network and IT underpins the opportunity to deliver improved results over the long term," he added. 

Three saw robust growth in its revenues in 2017, increasing by 7 per cent to £2.4 billion. The company also posted a healthy average margin per user rate of £12.04. 

Three's growth in 2017 was underpinned by a 30 per cent increase in capex, as the firm invested £459m in rejuvenating its network.  

 

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