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egus Opens Doors for Business in Madagascar Businesses in 95 countries have the option to work better Global workspace provider Regus has opened its first business centre in Madagascar, its 95th country. The centre will help businesses of all sizes to access new revenues in the region whilst keeping down the costs of expansion. The Madagascar opening is part of a rapid extension of Regus’ network in Africa and worldwide. In 2011 the company announced it would grow its network by at least 75% by 2014, adding some 30 new countries. Africa is a key development market in Regus’ expansion: in 2011, it added Uganda, Ivory Coast, Zambia to its network which stretches across the continent. The growth of the Regus network is helping more and more companies to open up new revenue streams in Africa’s emerging and frontier markets, without the high upfront costs of taking on long-term space abroad. These markets offer huge opportunities to businesses in all sectors, with The Economist predicting that seven of the world’s top ten fastest-growing economies in 2011-15 will be in Africa. The opening of the centre in Madagascar comes as the Malagasy economy recovers from a period of political instability. Growth is predicted at 2.8% in 2012, as mining companies scale up production and tourism strengthens.
http://www.investegate.co.uk/Article.aspx?id=20120131080000Z0605
UBS downgrades Regus from buy to neutral, target price cut from 130p to 80p
Goldman Sachs downgrades Regus from buy to neutral - target price from 143p to 105p
Credit Suisse recommends underperform on Regus, target price cut from 125p to 75p
Withdrawal of possible offer for MWB Business Exchange plc ("MBE") Despite Regus's all-cash possible offer of 92.36 pence per share for MBE (the "Indicative Offer" or "Regus's Indicative Offer") representing a 71.3 per cent. premium over the offer made by MWB Group Holdings plc ("MWB") for MBE on 28 April 2011 ("MWB's Offer") (as at close of business on 10 June 2011), and Regus announcing on 10 June 2011 that it had dropped all of the reservations to its Indicative Offer price, whilst the Indicative Offer remained subject to confirmatory due diligence and a recommendation from the independent committee of MBE (the "Independent Committee"), Regus confirms that neither MWB nor the Independent Committee have sought to engage in meaningful discussions with Regus in relation to Regus's superior Indicative Offer. Accordingly, Regus has no choice but to withdraw its Indicative Offer for MBE and therefore announces that it does not intend to make an offer for MBE. The refusal of MWB and the Independent Committee to engage has been despite the announcement today by Pyrrho Investment Limited ("Pyrrho"), the largest independent shareholder of MWB and MBE, that it will vote against the resolution to approve the scheme of arrangement to implement MWB's Offer (the "MWB Scheme"), which will effectively mean that the MWB Scheme cannot succeed.
http://www.investegate.co.uk/Article.aspx?id=201106131838493647I
Office space supplier Regus (RGU) has improved its offer for MWB Business Exchange, by dropping all previously announced reservations, and re-affirmed its commitment to a 60 million pound deal. Regus, however, added that it was disappointed that the Independent Committee and the MWB board and their advisers continue to refuse to engage contrary to their recent "misleading announcements". Regus shares slipped 0.1p to 107.7p.
Panmure Gordon upgraded Regus to a buy with a new price target of 132p.
http://investegate.co.uk/Article.aspx?id=201105170700126928G
Regus (RGU) continues to make progress despite a muted economic backdrop and is trading in line with management expectations, the office space provider announced in its annual general meeting as it remains cautions on the economy. The group said revenues for the four months to 30th April 2011 have increased 8.1% at actual exchange rates to 368.4 million pounds compared to the equivalent period in 2010. Shares in Regus, which operates over 1,000 business centres across 450 cities in 75 countries, gained 1.9p to 110.2p.
Commenting on today's announcement Mark Dixon, Chief Executive of Regus plc, said: "Against a tough economic backdrop Regus delivered solid financial results, driven almost entirely by execution on a range of key strategic initiatives started two years ago when the recession hit. We have seen little benefit from any economic upturn but we have continued to invest in growth, mature margins have held up well and cash flow continued to be strong reflecting the underlying health of the business. In terms of outlook we remain cautious on the economy, however we have been encouraged by recent positive trends that reflect the continued strategic delivery of our initiatives. In 2011 we are well positioned for a year of solid revenue growth and business improvement with continuing strong underlying cash flow generation."
STRATEGIC AND OPERATIONAL HIGHLIGHTS · Significant cash investment in growth of £69.7m translating into 125 new centres and 20,122 workstations · Global footprint extended to 87 countries, including new openings in Oman, Ghana and Lithuania · Strengthened management team and structure to support growth · Improvements in marketing and sales increased enquiries by 32% and deal volumes by 12% · Annualised costs savings achieved since the second half of 2008 now circa £135 million · Continued Businessworld growth - 69% increase in membership to 540,000 (2009: 320,000)
FINANCIAL HIGHLIGHTS · Revenues of £1,040.4m (2009: £1,055.1m) · Mature margin recovery during H2 2010 to circa 22.3%. · EBIT of £23.8m* (2009: £72.3m*) which is after growth costs. EBIT before growth costs of £42.0m* (2009: £80.0m*) · Cash from Operations of £109.7m* (2009: £105.1m*) · Net Cash of £191.5m (2009: £237.0m) · Earnings per share of 1.9p* (2009: 5.4p*) · Full Year Dividend per share increased by 8% to 2.6p (2009: 2.4p) *Excludes exceptional restructuring costs of £15.8m in 2010 and a net exceptional gain in 2009 of £15.7m.
http://www.investegate.co.uk/Article.aspx?id=201103210700082710D
Regus (RGU) posted a drop in pre-tax profits for the year ended 31st December 2010 but news that it expects a return to revenue growth in 2011 pushed the work-space rental group's shares up 16.1p to 116.6p. The firm, which offers ready-to-use offices for rentals as short as half a day, reported a pre-tax profit of 7.8 million pound, down from 86.9 million pounds a year earlier, as revenue fell by 1.4% to 1,040 million pounds. Looking ahead, chief executive Mark Dixon said: "In 2011 we are well positioned for a year of solid revenue growth and business improvement with continuing strong underlying cash flow generation."
I dont normally follow this share..from todays times: Regus gained 2p to 68.5p after the serviced office group said it would open a centre every day for the rest of the year amid growing demand from big corporates who are closing offices and allowing their employees to work more flexibly. A good entry point at this price .. while waiting for VOG to come good.... regards Fozzy
“Serviced office group Regus continues to push higher after its upbeat statement yesterday and bullish comments from brokers today.” Looking on for now.
“Regus the outsourced workplaces provider, suffered a 41% fall in operating profit in 2009 with basic earnings per share down by the same amount to 7.1p. The shares rose by 13.3p to 100.5p. Revenues were slightly lower, down 2% to 1,055.1 million pounds, but strong cash generation and good growth prospects caused the firm to hike the dividend by 33% to 2.4p for the year. The firm added that its cost savings programme was ahead of schedule, with savings of 54.6 million pounds achieved so far. The average number of available workstations rose by 5.3% in the year to 161,455, and 45 new centres were opened in 2009, although this is only a third of the figure for 2008. Investec said that Regus was a clear leader in a growth market, and the broker has a buy stance and 150p target price on the firm.”
Good to see this one jump,Has all our convidence as does '1pm' jumping up 10% today..this will be .15 -.18 in 10 days.
...worth a short.
these are still climbing! Definately beaten my target price I set of 75p. BTW: You guys still holding?
L&G Just passed the 3% marker: http://www.investegate.co.uk/Article.aspx?id=200904291141403550R
LOOK massive auctions at the close of play today. It's showing on here as buys and bid price now at 83.50 but: 1) 176k volume - total value £139k 2) 110k volume - total value £87k 3) 104k volume - total value £82k 4) 750k volume - total value £590k
Here's my next one to go and take a look at: OFF TOPIC - Advice please - Take a look at ODX and let me know you what you think? Just done little analysis on the chat area, I haven't invested but like to know what you think see if same as me. They've very quietly been ticking along, no interest but certainly just caught my eye for a longer term investment looking exceptional. Especially as in past 2 years price gone from 0.75 to 19p!