Home Business News Three’s profits rise ahead of 5G 2019 launch

Three’s profits rise ahead of 5G 2019 launch

by Peter Smyth Tech Journalist
21st Mar 19 1:22 pm

Mobile phone operator Three has seen rising annual revenues and profits, ahead of their 5G launch later this year.

The mobile operator is owned by Hong Kong’s CK Hutchison Holdings, they posted a 1% rise in sales to £2.4bn in the year to 31 December 2018.

Earnings rose 7% to £752m as they saw a rise in customer numbers and connection, contract customers were up by 1% to 7m. There active user base is currently more than 10m.

Three said they have made “significant progress” across the network ready to launch 5G later this year, the company has committed to investing £2bn to update their tech infrastructure.

Dave Dyson Three’s boss said, “Despite this investment in technology for the future potential of the business, we have improved our profitability and delivered a consistent financial performance through a rigorous approach to cost control.”

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