Huge increase in 3 Ireland turnover

MOBILE PHONE company 3 Ireland more than doubled its turnover in 2007 as the firm expanded its presence in the mobile broadband sector.

Accounts for Hutchison 3G Ireland just filed at the Companies Office show that turnover grew from €20.5 million in 2006 to €50 million last year, while losses for the year were lower than those for the previous year - at €38.7 million compared to the €99.9 million recorded in 2006.

Accumulated losses widened from €152 million to €190.8 million, according to the accounts.

The operating loss in 2007 was €75.6 million, compared to €88 million in 2006. The company now has net current assets of €19.7 million, which compares to liabilities of €36.4 million in 2006.

The company's turnover comes from monthly access charges, airtime usage and messaging charges on its third-generation video mobile and broadband services.

3 Ireland, which launched its 3G services in 2005, has a long-term funding facility from its parent company Hutchison Whampoa to provide the money for its operations, including significant investment in infrastructure.

A spokeswoman for 3 Ireland said the company had invested €530 million in Ireland, and now had 300,000 phone customers and 95,000 mobile broadband customers. Last month it signed a €30 million deal with Nokia Siemens to expand its national network of high-speed broadband access. "There will be further investments in infrastructure and further job creation as well."

The company has 21 stores and will open two more this year.