LONDON (Alliance News) - Office provider Regus PLC on Tuesday said it continued to see good trading in the third quarter and that its revenue for the year to date is tracking significantly ahead year-on-year.
The FTSE 250-listed business said revenue in the quarter to the end of September rose to GBP478.8 million from GBP413.6 million a year earlier, up 17%. For the nine months to the end of September, revenue is up 17% to GBP1.42 billion from GBP1.22 billion.
Regus said its pipeline of new openings remains strong and, with a number of openings which had been due for the fourth quarter now pushed into 2016, its outlook for this year and the next remains strong.
The group's mature portfolio, which covers offices opened before December 2013, remains strong, with revenue in the third quarter up to GBP397.5 million, up 2.5%, while its nine-month revenue in the mature business rose 4.9% to GBP1.21 billion. Year-on-year mature occupancy rose 3.3 percentage points to 82.2% at the end of September, Regus said.
Regus said its new locations are continuing to progress towards maturity in line with its expectations and said it remains confident on its outlook for the fourth quarter.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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