MBE MWB

    RNS Number : 0578L
  MWB Business Exchange Plc
  05 January 2009
   

    FOR IMMEDIATE RELEASE
    5 January 2009

    MWB BUSINESS EXCHANGE Plc:
    TRADING UPDATE FOR YEAR TO 31 DECEMBER 2008

    MWB Business Exchange Plc ("Business Exchange"), the second largest provider of serviced offices in the UK, today provides a trading
update ahead of the annual results proposed to be issued in early March 2009.

    Trading at Business Exchange was strong in the first half of the year. New business rates showed some reduction during the second six
months reflecting a focus on maintaining occupancy and building stronger committed income for 2009. Business Exchange maintained occupancy
levels at 90% throughout the year.

    One new centre was opened during the year, St Clements House in the City, although the company continues to explore a number of
Operating and Management Agreement ("OMA") opportunities that enable Business Exchange to open new centres with both little risk and minimal
capital expenditure. At 31 December 2008 Business Exchange operated a total of 56 centres with 15,700 workstations and 250 meeting rooms.

    Business Exchange will comment in more detail on trading when annual results for the year ended 31 December 2008 are announced in March
2009.

    Ends
    Contact:
    Richard Balfour-Lynn, Chairman Business Exchange.       Tel: 020 7706 2121    
    John Spencer, Chief Executive Business Exchange           Tel: 020 7868 7268
    Keval Pankhania, Finance Director Business Exchange    Tel: 020 7868 7255
    Baron Phillips, Baron Phillips Associates.                         Tel: 020 7920 3161    
    Capel Irwin, Nic Marren, KBC Peel Hunt                       Tel: 020 7418 8900


This information is provided by RNS
The company news service from the London Stock Exchange
 
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