RGU.L Regulatory News (RGU)

16 Dec 2005 07:00

Regus Group PLC16 December 2005 16 December 2005 REGUS GROUP PLC PRE CLOSE UPDATE Regus Group plc ("Regus"), the leading global provider of outsourced offices,provides the following pre-close update for the year ending 31st December 2005. Regus has delivered a strong performance across all regions in the second halfof 2005, increasing revenues and cash generation. Revenues for the elevenmonths to 30th November 2005 (at actual exchange rates) were £418.8 millioncompared to £216.0 million for the 6 months to 30th June 2005. In line with theexpansion programme outlined at our interim results and investor day, availableworkstations have grown by 4.5% in the second half to date. The Group made a further early repayment of $37.25m (£21.8m) on the $110.0m(£64.2m) term debt in September 2005, leaving $41.75m (£24.4m) of this term debtcurrently outstanding. The Group will have a positive net cash position at theyear-end. Commenting on today's announcement, Mark Dixon, Chief Executive, said: "I am pleased to report that trading is in line with our expectations. The Groupcontinues to take advantage of its many opportunities. Revenues are growinglike for like and, in addition, further new inventory has been added during thesecond half. The overall outlook for the Group remains positive - we have astrong business model and the Group is in a sound position from which togenerate further profitable growth." Regus Group plc will announce its full year results for the twelve months ended31st December 2005 in March 2006. For further information, please contact: Regus Group plc Tel: +44 1932 895135 Mark Dixon, Chief Executive Officer Stephen Gleadle, Chief Financial Officer Financial Dynamics Tel: + 44 20 7269 7291 Richard Mountain This information is provided by RNS The company news service from the London Stock Exchange