26th May 2005 07:30
Regus Group PLC26 May 2005 26 May 2005 PRESS RELEASE AGM TRADING UPDATE - PROGRESS CONTINUES Chertsey, UK, 26 May 2005, Regus Group plc (LSE: RGU) At today's AGM, John Matthews, Chairman, Regus, will provide the followingupdate on current trading: "I am pleased to report that Regus' performance in the year to date is in linewith the Board's expectations and continues the progress made by the Company.We have seen good improvement in trading and free cash flow generation. "In the first quarter, Revenue Per Available Workstation (REVPAW) increased by9.4% over the same period last year (on a pro-forma basis including HQ). Thisgrowth was achieved through a combination of occupancy improvement andworkstation price growth. Our Meeting Room and Virtual Office businesses havecontinued to experience double-digit growth. "In the year to date, all regions reported month on month improvements inrevenue with EMEA showing good progress and the US performance continuing tobenefit from the acquisition of HQ Global Inc. "The Group has already secured 80% of its budgeted workstation turnover for2005. In addition, the rolling 12-month forward order book is 14% higher thanthe same period last year on a comparable basis. "There remains a continued focus and selective approach to acquisitions and newcentre investment. During the year, new centres have been added in Japan, Indiaand Korea and we have recently made a small acquisition in Mexico. In addition,new centres are planned for China, Australia and Russia. It is anticipated thatthese will commence trading in the second half of this year and startcontributing early next year. "The Group has made an early prepayment of $20m (£10.5m) on its US$ term debt." Regus Group plc will announce its interim results for the six months ended 30June 2005 in late August 2005. For further information, please contact: Regus Group plc Tel: +44 1932 895135John Matthews, ChairmanMark Dixon, Chief Executive Financial Dynamics Tel: + 44 20 7269 7291David Yates / Richard Mountain This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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