Regus reports sharp rise in profits

Regus has reported strong growth in revenues and profits as the flexible workplace specialist eyes making £230m of investments this year, equivalent to 600 new locations globally.

In interim results for the first six months of the year, the company posted a 16.4% rise in revenues to £937m and a 63% jump in operating profits to £65m.

During the period, Regus invested £120m adding 231 new locations to the network bringing the total to 2,481 in 106 countries.

In the UK, the business performed well with revenue increasing 15% to £216.3m and profit before tax rising 47% to £42.2m.

“Regus delivered an excellent first half performance, giving us further confidence for the future,” said Regus chief executive Mark Dixon. “Our investments are delivering attractive returns, with returns on past investments improving and remaining well above our cost of capital and newer investments trading in line with our expectations.”

The strong performance enabled Regus to increase its dividend by 12% to 1.4p a share.

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