Regus now servicing 80 countries

Serviced office provider Regus continues to
expand overseas, despite a drop in revenues in the UK.

Chief executive Mark Dixon said the company had
opened 45 new centres over the past year “in a challenging economic
environment”.

Now operating in 80 countries, the company’s
Asia Pacific operation reports revenues up nine per cent. The UK
accounts for just a fifth of total sales.

Although the company announced, 22 March, a 42
per cent drop in pretax profits to £86.9m for 2009, revenue overall fell just
two per cent to £1.05bn and cash reserves are a healthy
£237m.

Regus plans to increase the number of its
workstations worldwide (currently 161,000) by up to 15 per cent this
year.

Dixon
says the company will renegotiate a number of its UK
leases, “where the historic rent is not reflective of current market conditions”
and did not rule out closing centres where necessary.

“While the outlook remains unclear, particularly
in the UK, we are cautiously
optimistic across our other geographies, Dixon adds. “We are experiencing an increased
level of growth opportunities as the trend toward flexible working
accelerates.”

Paul Colston

Author

Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

Up Next

Related Posts

banner