MWB Business Exchange seeking to acquire up to four new centres

Serviced office provider MWB Business Exchange has unveiled a trading update for the six months ending December 31st, outlining plans to purchase new office space.

Serviced office provider MWB Business Exchange has unveiled a trading update for the six months ending December 31st, outlining plans to purchase new office space.

The group, which specialises in providing office and workspaces to companies and individuals, stated that it is expecting to acquire up to four new centres in London over the coming year.

The group outlined an increase in revenue for both its available and occupied office space and quantified the size of its revenue over the half year period.

Revenue for the six months ending December 31st was £61.1m.

Annualised revenue per available workstation (REVPAW) increased to £7,447 as of December 31st, compared to £6,969 a year earlier.

The group also reported an increase in its annualised revenue per occupied workstation to £8,931, compared to £8,477 one year earlier.

Occupancy levels of 83% were maintained throughout the period and the group reported that meeting venues business and revenue from IT and related services were "in line with expectations".

Commenting on the outlook over the course of 2013, the board of directors said: "The focus of the Business Exchange Group in 2013 continues to be driving workstation rate and maintaining occupancy."

MF

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