Three reports strong growth

Three Ireland has reported strong growth as part of its parent company Hutchison Whampoa, whose interim results showed the ports and telecoms conglomerate’s net profit totalled €1bn.

Three Ireland posted revenue growth of 17% — higher than any other European market.

In particular, Three’s prepaid customers earned the company €16.47 average revenue per active user (ARPU) in Ireland, almost twice the European average of €8.77 ARPU.

Three Ireland’s postpaid revenue also outstripped the European norm, with the company’s Irish unit posting €38.58 ARPU compared to the company’s European average of €31.93.

The company is owned by Asia’s richest man, Li Ka-shing, who is already planning on expanding his European businesses — France Telecom, Orange Austria, and UK gas company Wales and West Utilities — and has signalled his interest in buying a stake in Britain’s Manchester Airports Group.

Hutchison’s net profit totalled HK$10.21bn (€1bn) in January-June, down from HK$46.3bn a year earlier when it booked a hefty one-off gain after spinning off some port assets, it said in a statement on the Hong Kong stock exchange.

The result beat the analysts’ forecast for a net profit of HK$9.39bn (€0.9bn).

Excluding exceptional items and property valuations, Hutchison reported an underlying profit of HK$9.83bn for the first half, higher than analysts’ average forecast of HK$9.17bn, and up from the HK$8.715bn posted a year earlier.

Additional reporting by Reuters