3 announces profit growth
28th March 2008
UK mobile broadband provider 3 witnessed an 18 per cent increase in revenue during 2007.
Hutchison Whampoa, 3’s parent company, has announced that the mobile broadband supplier recorded revenues of 59.9 billion Hong Kong dollars(£3.86 billion) in the year up to December 31st 2007.
The company reports that 3 continued to grow its customer base, increased revenues and met cashflow targets. In addition, the number of customers using 3G services - such as mobile broadband - increased 20 per cent over the year, with a total global user base of 17.6 million subscribers to its 3G services.
"In addition, despite continued intense competition in all markets, the 3 Group’s average monthly customer churn also improved to 2.6 per cent from 2.9 per cent in 2006," Hutchison Whampoa notes.
Churn rates refer to the number of people who leave broadband and phone services to switch to another provider.
The company has recently introduced a reduction for its pay as you go mobile broadband services, with wireless dongles now available at £69.99 to new customers. Existing 3 mobile users can receive an additional £20 off this price.
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