19th May 2008 07:00
19 May 2008
REGUS GROUP PLC - INTERIM MANAGEMENT STATEMENT
At the Annual General Meeting which will be held on May 20th, John Matthews, Chairman of Regus, the leading global provider of outsourced workplace solutions, will give the following Interim Management Statement.
"I am pleased to report that Regus' financial performance in the year to date is in line with the Board's expectations.
Revenues for the four months to 30th April 2008 (at actual exchange rates) were £334.5m, an increase of 24% over the £269.3m achieved for the same period last year.
The number of actual workstations has grown in the first four months by 5.2% to 149,974 with 48 centres being opened including Nagpur & Gurgaon, (India), Johannesburg, Jakarta, Manila, Hong Kong and Osaka. We have also opened a new office in San Salvador bringing the total number of countries we operate in to 71.
Cash generation has remained strong in the first four months with our net cash balance increasing 14% to £115.7m at 30th April 2008 after having incurred £17.3m on our share buyback programme. Subject to shareholder approval at the AGM we anticipate the payment of the 2007 dividend of 1p per share on 30 May 2008 to shareholders who were on the register on 2nd May 2008.
While we remain mindful of the uncertain economic climate our leading indicators suggest that our current year performance remains in line with expectations. This continuing strong performance bears testament to the skills and dedication of the management team as well as the robustness of the company's strategy."
For further information, please contact:
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Regus Group plc Tel: + 44 (0) 1932 895135 Mark Dixon, Chief Executive Officer Stephen Gleadle, Chief Financial Officer |
Brunswick Tel: + 44 (0) 20 7404 5959 Simon Sporborg / Catherine Colloms |
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This interim management statement contains certain forward looking statements with respect to the operations of Regus. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements and forecasts. Nothing in this announcement should be construed as a profit forecast. |
About Regus
The Regus Group is the world's leading provider of pioneering workplace solutions, with products and services ranging from fully equipped offices to professional meeting rooms, business lounges and the largest network of videoconference studios. The Regus Group delivers a new way to work whether it's from home, on the road or from an office.
Clients such as Google, GlaxoSmithKline, IBM, Nokia and Accenture join thousands of growing small and medium businesses that benefit from outsourcing their office and workplace needs to The Regus Group and allowing them to focus on their core business.
Over 400,000 clients a day benefit from Regus Group facilities spread across a global footprint of 950 locations, in 400 cities and 71 countries which allows individuals and companies to work wherever, however and whenever they want to.
For more information, visit www.regus.com.
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