19th Dec 2006 07:01
Regus Group PLC19 December 2006 19 December 2006 REGUS GROUP PLC ("Regus" or "the Group") FULL YEAR PRE - CLOSE UPDATE Regus Group plc the world's largest provider of outsourced workplaces, gives the following pre-close update ahead of its year-end on 31st December 2006. Regus will announce its preliminary results on 19th March 2007. Regus has continued to deliver a strong performance across all regions in thesecond half of 2006, increasing revenues and cash generation. Revenues for theeleven months to 30th November 2006 (at actual exchange rates) have increased47% to £616.5 million compared with £418.8million for the equivalent period last year. Average available workstations for the 11 months to 30th November have increased by 36% to 106,089 compared with 78,230 for the same period last year. Given this the Board believes that the performance for the full year will be inline with current expectations. The improving performance is driven both by like for like sales increases aswell as capacity growth. In the 11 months to 30th November, 201 new centres havebeen added worldwide including new centres in the fast-growing markets of Indiaand China. In the UK, the integration of the Regus UK business acquired in Aprilcontinues in line with plan. In addition, subsequent to acquisition, a further26 centres have been added bringing the total UK sites up to 116 including ourmanaged centres. The Group has also seen strong growth in its mobile andhome-working business resulting from growth in like for like sales as well asfrom acquisitions. Given the robust financial performance in the first eleven months of the yearand the future prospects for the Group, the Board has decided to commence payinga dividend. It is currently anticipated a dividend of 0.6 pence per share willbe paid for the year ending 31st December 2006 with a policy of progressivedividend growth in future years. Further details will be provided with the fullyear results. Commenting on today's announcement, Mark Dixon, Chief Executive, said: "We have maintained the excellent progress seen in the first half resulting inthe fourth year of financial improvement. As we approach the end of 2006 with strongprofitability and cash generation I am pleased to announce that Regus willbecome a dividend paying company. We have a robust business model and the outlook remains positive withworldwide enquiries running at all time highs. The Group is in a sound positionto generate further profitable growth". For further information, please contact: Regus Group plc Tel: +44 (0)1932 895 135 Mark Dixon, Chief Executive Officer Stephen Gleadle, Chief Financial Officer Brunswick Group LLP Tel: +44 (0)20 7404 5959 Simon Sporborg Robert Gardener About Regus The Regus Group is the world's leading provider of pioneering workplacesolutions, with products and services ranging from fully equipped offices toprofessional meeting rooms, business lounges and the largest network ofvideoconference studios. The Regus Group delivers a new way to work whether it'sfrom home, on the road or from an office. Clients such as Google, GlaxoSmithKline, IBM, Nokia and Accenture join thousandsof growing small and medium businesses that benefit from outsourcing theiroffice and workplace needs to The Regus Group and allowing them to focus ontheir core business. Over 100,000 clients a day benefit from Regus Group facilities spread across aglobal footprint of 750 locations, in 350 cities and 60 countries which allowsindividuals and companies to work wherever, however and whenever they want to. For more information, visit www.regus.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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