Three UK Capex touches £162 mn focusing on 5G

Three UK said its Capex spend rose 7 percent in Q1 2022 to £162 million due to significant network investment focusing on the rollout of 5G and the performance of 4G network.
Three UK mobile networkThree UK said 5G network coverage has reached more than 1/3rd of UK population across 370 towns and cities with more than 2,800 sites live.

Three UK CEO Robert Finnegan said: “Our network improvements are supporting this growth, and we now cover more than a third of the UK’s population and have the fastest 5G network as rated by Ookla. Our continued investment is enabling our customer experience improvements.”

Contract base increased 5 percent with significant growth in SMARTY, Home Broadband and Business, Three UK said. Contract churn is 1.1 percent, reduced in Q1 2022 through strong retention initiatives.

Three UK reported revenue of £582 million in Q1 2022 vs £581 million in Q1 2021. Total margin rose 1 percent to £365m vs £359m while net AMPU increased by 2 percent.