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Growth at mature centres drives office space supplier Regus' revenue

Reuters - UK Focus

March 4 (Reuters) - Office space supplier Regus Plc (Other OTC: RGSJF - news) reported a 23.3 percent rise in full-year revenue as it saw higher growth at its mature centres.

The Luxembourg-based company, which provides meeting rooms, business lounges and office spaces for rent, said revenue rose to 1.53 billion pounds ($2.56 billion)in the 12 months ended Dec. 31 from 1.24 billion pounds a year earlier.

Revenue per occupied workstation (RevPOW) - a key metric in the space rental business - rose 4.3 percent to 7,750 pounds, said the small business's landlord.

Mature centres are those which have been open for at least a year.

Regus, which was founded by billionaire Mark Dixon, leases space to corporates including GlaxoSmithKline (Other OTC: GLAXF - news) , Google and Toshiba (Frankfurt: TSE1.F - news) .