Recession helps rental group Regus

The Chertsey-based Regus said demand for its space was on the increase by workers who were made jobless during economic slump.

Office rental group Regus reported occupancy rates in London over 90 per cent.

Company's global revenues soared 9.8 per cent to settle at £557.4 million owing to favorable exchange rates. However, turnover dropped 6.8 per cent on constant currency basis.

Regus, which owns 135 centers in Britain, posted interim pre-tax profits worth £69 million for the first half of 2009, down by 7.4 per cent.

Mark Dixon, CEO of the company initiated a 'Regustogo' office-in-a-box gimmick to attract new customers.

Regus offered a number of business services. For instance, one can get access to a serviced office for half a day, with desk, internet access and coffee for only £10. Expensive versions of the service are also available.

CEO Mark Dixon said, "Despite the historically challenging trading conditions we have delivered a robust first half performance."

The company hiked dividend to 0.8p a share, up 0.6p.

In the recent trading, Regus shares soared 12½p to settle at 88.15p.