Americas give Regus a profit boost
Office space provider Regus reported a sharp increase in half year profit helped by a robust performance at its business in the Americas.
Office space provider Regus reported a sharp increase in half year profit helped by a robust performance at its business in the Americas.
For the six months ended 30 June 2012 group revenue grew 7.6% to £608.6m while mature like-for-like revenue increased 2.6%. Profit before tax surged to £32.2m during the period from £13.8m the same time a year earlier.
Revenue from the firm's mature business within the Americas increased 6% to £242.7m following higher occupancy rates.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Mark Dixon, Chief Executive said: "Our mature business saw strong demand across all geographies and customer types, with profitability more than doubling on the back of improvements in occupancy and yield management. We continue to invest to satisfy this growth in demand, adding another 76 centres in the period."
"Overall, our business continues to perform well and in line with our expectations," it added.
The interim dividend has been increased 11% to 1p.
CJ
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Saba Capital and Boaz Weinstein respond to investment trusts
As investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
By Dan McEvoy Published
-
How to find top-quality companies with growing dividends
Ian Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
By Ian Mortimer Published