Heavy Rain

Heavy Rain

max temp: 11°C

min temp: 6°C

ESTD 1874 Search

Essex: Record year of investment for office space group Regus

15:47 04 March 2014

Regus founder and chief executive Mark Dixon

Regus founder and chief executive Mark Dixon

Archant

Office space provider Regus today reported a 23% increase in annual revenue to £1.534billion following a record year of investment.

shares

Operating profit for 2013 was 1% ahad at £90.8million, despite the impact of investment totalling £301.1m, although increased interest charges left the pre-tax total 4% lower at £81.5m.

Operating profits at the group’s mature centres rose 33% while its newer sites also performed in line with expectations.

Regus founder and chief executive Mark Dixon, who was born in Essex where his early ventures including running sandwich, hot dog and burger buns businesses, said: “It’s been another record year of achievement for Regus, with strong progress made across all parts of the business.”

“Group revenue was up 23%, following a 30% increase in the size of our global network to 1,831 business centre locations, an unprecedented rate of growth and investment, which included the successful integration of MWB.

“Our mature business remains the engine room of the group and it delivered operating profits in excess of £205m, a 33% increase, alongside free cash flow of £157m. This strong performance from our mature business allowed us to reinvest in growth, so ensuring the incremental returns of the future.”

Mr Dixon added: “At this early point in the year it is always somewhat difficult to predict precisely how many locations we will add, but we expect at least 300 new business centre locations as well as the addition of more third place locations.

“Current trading is good, although the strengthening of sterling in recent months will affect the translation of our results. Notwithstanding this, we remain confident in our business model and our prospects for the year ahead.”

The Regus portfolio of business centres within the eastern region includes two in Mr Dixon’s home county of Essex, in Chelmsford and Brentwood, and others in Cambridge and Norwich.

shares

0 comments

Home Secretary Theresa May is launching Conservative candidate for Colchester Will Quince's campaign.

The Home Secretary visited Colchester today to launch the Conservative candidate’s manifesto.

Hen harrier chicks at a nest - the species has become a symbol of UK bird of prey protection efforts.

A top naturalist and TV presenter really got to the art of the matter in his fight against illegal bird and animal persecution - and used a Constable masterpiece to make his point

Sudbury Town Centre. North Street.

Police are treating the sudden death of a man in Sudbury as unexplained.

Thomas the Tank was a favourite of Callum Maclean

It’s been a tad nostalgic in the office this week, writes Kate Dodd. A flippant mention of favourite TV as a child, and the chat turned all misty-eyed and heart felt.

Emergency services at the scene at the multi-storey car park in Bury on November 28.

A 64-year-old woman who died after falling from a multi-storey car park in Bury St Edmunds committed suicide, an inquest has heard.

RAF Mildenhall

A new group has been launched to evaluate ideas for future uses of the RAF Mildenhall site before presenting them to the Ministry of Defence (MOD).

The Red Arrows perform manoeuvres at the Clacton Air Show on Friday, 22 August.

Spectators at this year’s Clacton Airshow will once again be able to watch the world famous Red Arrows.

Kevin Bru after being reunited with Gizzer

Ipswich Town supporters came to the rescue of one their favourite players, reuniting them with their beloved dog.

Giles' portrait of Alf Garnett

An unusual work by Suffolk art icon Carl Giles is to be auctioned in the county.

Traffic. Library image.

A broken down lorry caused slight delays for westbound traffic on the A14 this evening.

Most read

Most commented

Topic pages