3 Ireland revenues jump by 53% to €150m

REVENUES AT mobile operator 3 Ireland jumped by 53 per cent to €150 million last year, according to 2011 results published yesterday by its Asian parent company Hutchison Whampoa.

Loss before interest, tax, depreciation and amortisation (LBITDA) at 3 Ireland reduced by 50 per cent to €28 million.

A spokeswoman for 3 Ireland said that the increase in revenues reflected a very strong uptake on the company’s i-phone and smartphone offerings.

“In particular, the decision to offer free iPhones led to a huge jump in the number of contracts,” she said.

According to the accounts, contract customers represented 41 per cent of 3’s customer base, although contract customers contributed about 82 per cent of the revenue base.

3 Ireland, which has about 420,000 active customers, also operates the National Broadband Scheme, the Government initiative designed to deliver broadband coverage to rural areas.

Hutchison Whampoa operates a number of industries across the world, including ports, hotel and property, energy and telecommunication businesses.

Results for the year ended December 2011 show that profits at the company, which is listed in Hong Kong, more than doubled from the previous year, boosted by earnings from UK utilities, Canadian oil production and cosmetics stores in China.

Revenue rose by 22 per cent to $HK 387 billion (€37.6 billion), up from $HK 319 billion (€31 billion) in 2010, boosted by the sale of port assets last year.

The company said its telco division, 3 Group, which represents about 20 per cent of revenue, would make “an improved earnings contribution” this year.

It said that underlying operating performance improved, reflecting its growing market share of the smartphone and mobile broadband market in all countries where the 3 Group operates.