Regus, the managed office workspace group, has reported that their Q3 revenue performance has “remained strong”.

Regus, an international group who operate offices in Liverpool’s Exchange Flags complex, have reported that their performance in Q3 has “remained strong” even in the face of the affect the strength of the sterling has had on international operations.

Group turnover has increased to over £416 million, compared with £386 million in Q3 2013, an increase of 13.5% at constant currency values and 7.7% at actual rates.

Regus has also seen business expansion, with a total of 2,076 centre locations that comprise nearly 340,000 workstations in Q3 2014 compared with 2,004 locations and less than 330,000 workstations in Q2.

The update from Regus reported that:

“As a result, our net debt position improved by £18m in the quarter to £144m at September 30, 2014.”

Regus said that it has approximately £60 million available to further invest into continued expansion operations in 2015, the equivalent of nearly 200 new locations.

Regus’ statement summarised by saying:

“We are pleased with the continued strong performance of our business.

“The mature business has delivered a strong underlying performance and continues to generate good profitability and very strong cash conversion.

“We remain confident that our new business will develop in line with the group’s expectations, and will deliver strong returns over the medium term.

“We continue to find attractive opportunities to invest in growth that generates returns well in excess of our cost of capital.

“Our growth plans are regularly reappraised and can be quickly adjusted if market conditions dictate that it would be prudent to do so.”

It adds: “We remain vigilant in our control of overheads, ensuring we continue to benefit from our scale advantages while investing to support the group’s growth strategy.

“Looking forward to the remainder of 2014, we remain confident that our business will continue to perform strongly and develop in line with our expectations.”

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Words: Peter Cribley