Thriving Americas lift Regus earnings

City A.M. Reporter
OFFICE space supplier Regus said yesterday its first-half adjusted profit rose about 64 per cent on higher revenue from its business in the Americas.

Regus, which offers ready-to-use offices for rentals for periods as short as half a day, said adjusted pre-tax profit grew to £21.3m for the six months ended 30 June, from £13m a year earlier.

The Luxembourg-headquartered company, whose customers include GlaxoSmithKline, Google and Nokia, said revenue grew 7.6 per cent to £608.6m.

Revenue from the company’s mature business – centres opened on or before 31 December 2010 – within the Americas grew six per cent to £242.7m on higher occupancy rates. Like-for-like revenue from its mature centres, represents 83 per cent of its global portfolio, grew 2.6 per cent.