Interim Management Statement (6928G)
May 17 2011 - 2:00AM
UK Regulatory
TIDMRGU
RNS Number : 6928G
Regus PLC
17 May 2011
17 May 2011
REGUS PLC - INTERIM MANAGEMENT STATEMENT
At its Annual General Meeting which will be held later today,
Doug Sutherland, Chairman of Regus, the world's largest provider of
flexible workspaces, will give the following update on trading
covering the period from 1(st) January 2011. Unless otherwise
stated, figures quoted in this statement are for the four month
period ended 30(th) April 2011 ("the period").
"Regus continues to make progress despite a muted economic
backdrop and is trading in line with management expectations.
Revenues for the four months to 30(th) April 2011 have increased
8.1% at actual exchange rates to GBP368.4m or 9.9% at constant
currency compared to the equivalent period in 2010.
In line with its previously stated strategy Regus has continued
to invest in growth. It has both expanded its geographic presence
into new countries such as Serbia, Latvia and Uganda and deepened
its network within existing cities such as New York, Paris and
Shanghai. As a result the total number of workstations increased
over the period to 192,128.
The Group continues to make progress with its previously stated
strategic initiatives; these include continued investment in sales
and marketing to drive enquiries and occupancy, streamlining
process and structures, and product and service innovation among
others.
Regus continues to show robust underlying cash generation. After
investing GBP21.1m in the period to grow and develop its centres,
its net cash position has remained significant at GBP191.0m at
30(th) April 2011.
As announced on 22(nd ) March 2010, reflecting the Group's solid
trading performance, strong cash position and confidence in the
future prospects for the Group, the Board has recommended a 9.4%
increase in the final dividend per share from 1.6p per share to
1.75p per share. Subject to shareholder approval at the AGM this
will be paid on 27(th) May 2011 to shareholders who were on the
register at the close of business on 26(th) April 2011.
Regus remains cautious on the economy; we continue to be
encouraged by recent positive trends that reflect its continued
strategic delivery. The Group is well positioned for a year of
solid revenue growth and business improvement with continuing
strong underlying cash flow generation.
The business remains strategically well positioned to utilise
its strong global network, capabilities and balance sheet to
exploit attractive long-term growth opportunities. The rate of
capacity expansion and investment in the business continues across
all regions."
For further information, please contact:
Regus plc Tel: + 352 22 9999 Brunswick Tel: + 44 (0) 20 7404
5160 5959
Mark Dixon, Chief Executive Officer Simon Sporborg
Stephen Gleadle, Chief Financial Wendel Verbeek
Officer
Andrew Brown, Group Communications
Director
This interim management statement contains certain forward looking
statements with respect to the operations of Regus. These statements
and forecasts involve risk and uncertainty because they relate
to events and depend upon circumstances that may or may not
occur in the future. There are a number of factors that could
cause actual results or developments to differ materially from
those expressed or implied by these forward looking statements
and forecasts. Nothing in this announcement should be construed
as a profit forecast.
----------------------------------------------------------------------
About Regus
Regus is the world's largest provider of flexible workspaces,
with products and services ranging from fully equipped offices to
professional meeting rooms, business lounges and the world's
largest network of video communication studios. Regus enables
people to work their way, whether it's from home, on the road or
from an office. Customers such as Google, GlaxoSmithKline, and
Nokia join hundreds of thousands of growing small and medium
businesses that benefit from outsourcing their office and workplace
needs to Regus, allowing them to focus on their core
activities.
Over 800,000 customers a day benefit from Regus facilities
spread across a global footprint of 1,100 locations in 500 cities
and 88 countries, which allow individuals and companies to work
wherever, however and whenever they want to. Regus was founded in
Brussels, Belgium in 1989; it is headquartered in Luxembourg and
listed on the London Stock Exchange. For more information please
visit: www.regus.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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