Member Article

Regus announce £32.2m double profits in first half

Office space supplier Regus have announced a highly successful first half to 2012 as the company more than doubled its profits and raised its dividend by 11%.

Regus’ pre-tax profits leapt to £32.2m by 133%, while it reported an improved group revenue growth of 7.6%, up from 2.6% the previous year.

Success in the Americas and Asia Pacific units beat the UK market. Occupancy in Asia Pacific delivered increased revenues of £81.5m, North and South America saw a 5.2% rise to £242.7m, while the UK provided £103.3m in revenues.

Regus put this down to a challenging UK market, and said that improvements in financial performance remained slow.

Mark Dixon, Chief Executive of Regus plc said: “I am pleased to be reporting another period of profitable growth across our business at a tough time for the global economy.

“Our mature business saw strong demand across all geographies and customer types, with profitability more than doubling on the back of improvements in occupancy and yield management.

’We continue to invest to satisfy this growth in demand, adding another 76 centres in the period. Our new centres are performing well, endorsing our growth strategy.

“At the same time, Regus continues to innovate, developing new products and services. This maximises revenues from our existing centres and gives customers more reasons to come to Regus.

“Overall, our business continues to perform well and in line with our expectations.”

Regus’ interim dividend was cited at 1 pence per share, while the firm predicted profitable growth globally and across the 96 countries they currently operate in.

This was posted in Bdaily's Members' News section by Miranda Dobson .