Office space firm Regus said it plans to open more offices this year than originally expected in order to meet growing demand for flexible and mobile working.
The company had anticipated adding 200 new centre during 2012, but now plans to open 230 - 250 new centres.
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
However, it added they would contribute to cash flows and profitability in future years.
The plans came with a caveat that unpredictable economic conditions could put the brakes on the firm's plans.
"We are ready to scale back our growth plans if macro-economic conditions dictate that it would be prudent to do so," Regus said in a statement.
The company said its financial performance in the third quarter of 2012 was in line with management expectations.
Group turnover in the third quarter increased by 7.6% at constant currency to £307.3m compared with £293.5m in the same period last year.
Turnover for the nine months to the end of September increased by 8.4% at constant currency to £916m.
The firm's mature business, which covers offices opened before the end of 2010 and makes up over 80% of its centres worldwide, posted revenues to £277.1m in the third quarter.
This marked an increase of 1.1% at constant currency, but was down 1.6% at actual exchange rates.
-
What is the 25x retirement rule and does it work?The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about
