RGU.L Regulatory News (RGU)

19 Nov 2009 07:00

19 November 2009

REGUS PLC - INTERIM MANAGEMENT STATEMENT

This statement covers the period from 30th June 2009 to 19th November 2009. Unless otherwise stated, figures quoted in this statement are for the 4 month period ended 31st October 2009.

Regus' financial performance in the year to date continues to reflect the continuing challenging global trading environment but remains broadly consistent with our expectations at the time of the half year results announcement in August.

Revenues for the four months to 31st October 2009 (at actual exchange rates)were 332.0m, a decrease of 9.5% over the 367.0m achieved for the same periodlast year.The total number of actual workstations has continued to grow over the last 4months to 174,487 (including non-consolidated workstations). New centres openedincluded Port Louis in Mauritius, Tallinn in Estonia and a joint venture inSenegal bringing the total number of countries in which we operate to 78.Our net cash position remains strong. At 31st October 2009 our net cash was

229.1m compared to 229.5m at 30th June 2009. This reflects a continuing underlying cash generation offset by a further 7.3m invested in growing the business and the payment of the interim dividend of 7.6m in October. The balance also reflects the impact of normal seasonal working capital fluctuations which occurred in the four month period. Our net cash position over the last 12 months has increased from 159.9m to 229.1m .

Looking forward, while our results continue to be impacted by pressures onprice and occupancy, we also see some signs of stabilisation in our leadingindicators. In addition, we are benefiting from our cost reduction programmewhich remains on track to meet its full year target. However, given thefragility of the economic environment and the uncertainties we face, we remaincautious in our outlook for 2010.Notwithstanding this, as the global market leader coupled with our continuedprofitability and strong balance sheet we remain ready to exploit appropriate,earnings enhancing opportunities for growth.

Today Regus will be hosting an investor and analyst presentation at its Berkeley Square Centre. There will be no material new information.

For further information, please contact:

Regus plc Tel: + 352 22 9999 5160 Brunswick Tel: + 44 (0) 20 7404 5959

Mark Dixon, Chief Executive Officer Simon Sporborg Stephen Gleadle, Chief Financial Officer This interim management statement contains certain forward looking statements with respect to the operations of Regus. These statements and forecasts involverisk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward looking statements and forecasts. Nothing in this announcement should be construed as a profit

forecast. About Regus

The Regus Group is the world's leading provider of pioneering workplace solutions, with products and services ranging from fully equipped offices to professional meeting rooms, business lounges and the largest network of videoconference studios. The Regus Group delivers a new way to work whether it's from home, on the road or from an office.

Clients such as Google, GlaxoSmithKline, IBM, Nokia and Accenture jointhousands of growing small and medium businesses that benefit from outsourcingtheir office and workplace needs to The Regus Group and allowing them to focuson their core business.Over 400,000 clients a day benefit from Regus Group facilities spread across aglobal footprint of 1,000 locations, in 450 cities and 7 8 countries whichallows individuals and companies to work wherever, however and whenever theywant to.

For more information, visit www.regus.com.