News on 28 February 2001
The turnover of serviced office provider Regus grew 110% (1999 80%) last year to £421.1m. The company has also turned last year’s operating loss of £43m into a profit of £12.4m.
The company added 93 centres and almost 24,000 workstations to its portfolio last year and now covers 48 countries, which have been divided into three geographic regions: Americas, International and UK & Ireland, following the appointment of Jim Howland who joined Regus as CEO of the Americas and Rob Kuijpers as CEO of the International division. Chief executive Mark Dixon will continue to be responsible for UK & Ireland but will also focus on the strategic development of the company, particularly on the opportunities to offer a broader range of business services to customers.
Mark Dixon commented on the results: “This has been an outstanding year for Regus – we have delivered growth with profitability and established ourselves as a major force in the US. On the back of continuing strong trading conditions in our key markets we are accelerating our new centre opening programme in the first half of this year. We remain confident of he outlook for Regus in 2001.”
Regus floated in October last year at a value of £1.5bn (see News story).
