Three profits rocket 43pc to £123m in six-months

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Revenue down three per cent but profits have gone up 43 per cent year-on-year

Three UK saw year-by-year profits rise by £37 million for the first half of 2014 but overall revenue fell by three per cent.

Total revenues dropped from just over £1 billion in H1 2013 to £974 million, with handset revenues falling by a quarter on the same period last year.

Three saw the number of customers rise from 9.2 million to 9.7 million, a five per cent rise, with 381,000 new pay monthly customers joining. Churn stayed the same at 1.6 per cent.

Net customer service margin has risen by even per cent while operating expenses saw growth of -2%.

Three claimed the rise in their customer base along with an increase in data usage by their customers led to the increase in profits. They claim their customers use more data than the industry average, with the an average use of 2.6Gb per customer used in June.

Richard Woodward, Chief Financial Officer, said: “We have achieved sustained and profitable growth while introducing new tools and plans to help make mobile better for customers. The steps we have taken over the last six months have helped us attract and retain engaged and profitable customers while maintaining an efficient cost structure.”

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