Regus suffered a drop in its profits in the first half of this year by 3%. The decrease was related to the costs due to the restructuring of MWB Business Exchange, a serviced office provider it acquired in February this year. Regus bought 64 centers of MWB Business Exchange for a price tag of GBP 65.6 million.
Headquartered in Luxembourg, Regus said its pretax profit dropped to GBP 31.1 million for the six months ending June 30. In the same period last year, Regus posted profits of GBP 32.2 million.The operating margins for the first half also fell from 5.6% last year to 4.6%.
Revenues of the Luxembourg-based office space supplier, however, increased by 22.4% to GBP 744.7 million. Revenues from the spaces it opened on or before December 31, 2010 also rose to GBP 626 million. This represented a 5.9% increase from the year before.
Regus rents out meeting rooms, business lounges and office spaces to customers. Its client list includes Google, GlaxoSmithKline and Nokia.
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