Three UK’s full-year results for 2017 see profits drop due to IT upgrades

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Three UK hit 10 million active customers during a year of heavy expenditure.

On March 16 mobile operator Three UK reported a 2 per cent drop in earnings to £432 million before interest, taxes, depreciation and amortisation (EBITDA) reportedly due to a major IT and network upgrade.

Although Three UK did see a stark rise in sales revenue up 7 per cent to £2.4 billion and capital expenditure increased to 30 per cent ending with £459m, due to increased investment in its self-titled “digital transformation”.

Three UK chief executive David Dyson said: “To deliver such a degree of strategic change whilst maintaining strong profitability is testament to the hard work and dedication of the thousands of staff across the Three UK business.”

During 2017 Three UK’s monthly broadband data usage saw a rise of 7 per cent for each customer, increasing data usage to 6.8GB. Indoor population coverage is now up 3.5 per cent displaying further positive results.

Three’s active customer base also grew 10 per cent, hitting and surpassing its 10 million milestone from by December 2017. Three UK now have a total of 10,070,000 active customers (6.8m contract and 3.2m prepaid) increasing the number by 900,000.

Dyson added: “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.”

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