EVERYTHING Everywhere reported sluggish growth yesterday as the newly merged entity struggled to hit ambitious growth forecasts.
The joint venture between France Telecom’s Orange and Deutsche Telekom’s T-Mobile saw its revenues rise by just 0.1 per cent year-on-year to £1.8bn, compared to a 5.3 per cent drop last quarter.
Revenue from its core mobile services, taking into account a hit on mobile termination rates, was down 0.1 per cent.
EE’s contract customer base grew by 185,000, below some predictions of more than 210,000 and a drop on the previous two quarters – 222,000 and 267,000 respectively.
Tom Alexander, chief executive officer of Everything Everywhere, said: “The UK market remains highly competitive, but once we get through our period of transition, and we are able to leverage both our scale and joint networks, as well as realise the proposed synergies, we expect to see further progress on improving our financial position.”