Regus is positioning itself to profit from a downturn in corporate occupier demand for traditional leased office space after a strong advance in annual profits. Financial Times (Saturday)
The office outsourcer saw a 54% jump in pre-tax profits to £119.4m in 2007 on a 26.8% rise in revenue to £862.4m.
Regus does not own any property but instead operates serviced offices in buildings and homes through joint ventures, franchises and managed offices deals. The company grew the number of centres by more than 20% last year and now operates across 70 countries.
Mark Dixon, Regus chief executive, said the office occupier market would come under pressure in the next two years owing to problems in the economy but the company’s business would benefit as companies looked to cut costs.