Regus reports doubling of pretax profit to £77.5m

Regus Group, the world’s largest serviced offices provider, has reported a doubling of pretax profit to £77.5m for the year ended 31 December 2006. The company’s revenue increased by 46.8% to £680m and Regus declared a maiden dividend of 0.6p per share for the full year. Chief executive Mark Dixon said the number of workstations available increased 36.4% and the average global occupancy in the year increased to 81.8% compared with 78% previously. Average revenue per workstation climbed 7.6% to £6,340. “This has been another outstanding 12 months for the group with record results for the third year in succession,” Dixon said. In April last year, Regus acquired the remaining 58% interest in Regus UK for £89.4m and subsequently acquired Gainsborough and Longford business centres, and Managed Office Solutions – a company specialising in property outsourcing. In the full year 2006, Regus UK generated revenues of £168.4m, and Dixon said since the acquisition, occupancy rates in the UK had climbed from 72% in April to 81% at the end of the year. The company has also appointed Nick Wood to fill a new position of UK chief executive. Wood, who joins in April, was former divisional managing director – communication at DSG International.