Regus stays cautious as revenues rise

 
City A.M. Reporter
BRITISH workspace rental company Regus said revenues grew 8.1 per cent in the first four months of 2011 and that it was well placed for further growth despite remaining cautious on the economy.

Regus, which offers ready-to-use offices for rentals as short as half a day, yesterday said revenue for the four months to 30 April rose to £368.4m.

“Regus continues to make progress despite a muted economic backdrop and is trading in line with management expectations,” chairman Doug Sutherland said in a statement.

Regus, which in March posted a 67 per cent drop in 2010 earnings after a year of expansion, tough trading and cost cutting, said investment in its business would continue across all regions.

Shares in the company, which operates in 88 countries and whose clients include Yell and AT&T, closed at 110.20p yesterday, valuing the business at just over £1bn.