Regus returns to profit, posts £38.7 million in pre-tax |
|
|
Published
:
Tue, 21 Mar 2006 01:20
|
LONDON: Office space provider Regus Group Plc. returned to profit in 2005 helped by all round organic growth and acquisitions. The company posted a pre-tax profit of 38.7 million pounds, compared to a loss of 4.9 million pounds in 2004 as revenue grew 48 per cent to 463.3 million pounds.
Chief executive Mark Dixon said Friday it had been an outstanding year for the company with a strong financial performance that stemmed from its continued investment in growing existing businesses and its ability to identify and exploit new opportunities.
Regus runs a network of serviced office centres in 350 cities in 60 countries. It said during the year it had increased the average number of available workstations by 32 per cent to some 79,000, while occupancy had increased to 78 per cent from 75 per cent and average revenue per workstation rose by 12 per cent to 5,890 pounds.
Dixon pins hopes on Asia as he said the region has a faster rate of growth. He said there is a greater adoption by companies in Asia of Regus' services "because they want to be efficient, they want to outsource".
The company is not recommending any dividend for the year but said it will continue to keep its policy under review.
Regus shares were up 1.1 per cent at 1131/2 pence, valuing the company around 1.1 billion pounds.
|
|
|
|
|
|
Print this Story
British Land's NAV goes up 11.3% 