5/13/2009 12:40:00 PM
O2 adds 250,000 new customers in Q1
O2 has reported a 2.8% reduction in churn levels, which it claimed was ‘the lowest the industry has ever known’.
The network reported its results for the quarter ended March 31 2009 today.
O2 recorded another consecutive quarter of growth, adding nearly 250,000 contract customers compared with Q1 2008 – an increase of 3%.
Revenues for the first three months of the year were £1.3m, up 7% on the same period in 2008. The increase in UK customers contributed to the European customer base reaching 46.7 million.
Telefonica chairman and chief executive Matthew Key said: ‘Telefonica O2 UK’s churn is the lowest the industry has ever known – helped by our constantly evolving range of innovative consumer and business propositions.’
ARPU took a knock, with total ARPU falling by 3.6% year on year and voice ARPU falling by 6.3%, due to a rise in customers choosing cheaper Sim-only deals.
Key added: ‘The UK business yet again outperformed in a slower market. In spite of a tough economic environment, we delivered a strong set of results in the first quarter in increasingly competitive markets.’