‘Recession-busting’ Regus profits up

Office, conference and training space rental firm Regus has announced profits up 25 per cent, as more companies rent its space rather than buy new premises.

Chief executive Mark Dixon says difficult economic conditions have provided Regus with new earning opportunities.

“Our new portfolio of recession-busting products is attracting many new customers who are looking to reduce their office costs and gain flexibility in an increasingly challenging marketplace,” he says.

Last year’s global pre-tax profit totalled £149.2m, up from £119.4m a year earlier.

Total revenues also rose 25 per cent, to £1.08bn. Revenue growth in the UK operation was a slightly more modest 6.7 per cent, up to £222m.

Regus increased its dividend to 1.8 pence per share, up from 1p last year.

“2008 was another successful year for Regus, delivering a fifth consecutive year of record performance,” says chief executive Mark Dixon.

Regus claimed to have opened 112 new centres in 2008 and increased the number of available workstations to over 153,000.

Dixon says the company is attracting new customers who are “looking to reduce their office costs and gain flexibility in an increasingly challenging marketplace”. He also promised continued targeted investment in 2009.

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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