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

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
The best investment trusts to buy for 2021
Investment trusts

The best investment trusts to buy for 2021

Sectors ranging from emerging markets to student accommodation look poised to do well this year, says David Stevenson, as he picks the best investment…
19 Jan 2021