3rd Mar 2015 07:51
LONDON (Alliance News) - Office provider Regus PLC on Tuesday reported a rise in 2014 pretax profit and revenue, even as both measures were held back by the strength of sterling over the year, and said it would hike its dividend payout.
FTSE 250 constituent Regus said its pretax profit for the year to the end of December was GBP87.1 million, up from GBP81.5 million a year earlier, despite being held back by sterling strength. At constant currencies, pretax profit rose 19%, Regus said.
Revenue increased to GBP1.68 billion from GBP1.53 billion last year as the group expanded its presence to 850 towns and cities, with 166 new towns and cities added over the year, comprising 452 new locations.
The company said it would increase its final dividend to 2.75 pence per share from 2.5 pence last year, meaning its total dividend for the year increases 11% to 4 pence from 3.6 pence.
"Regus is performing well. Our past investments are producing attractive returns that are well above our cost of capital. This performance gives us the confidence to continue to invest, thereby enhancing future shareholder value," said Regus Chief Executive Mark Dixon.
By Sam Unsted; [email protected]; @SamUAtAlliance
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