The UK’s largest serviced office operator Regus Plc has revealed that its net cash balance is at an all time high.
The flexible office space operator has posted its results for the six-month period ended June 30th revealing a jump in net cash balance from £211.2m to £229.5m; putting the company in its strongest cash position to date. Results also showed, however, that net profit has remained almost unchanged year on year from £54m to £54.4m and Regus has admitted a cautious interim outlook.
CEO Mark Dixon has told the Financial Times that Regus continues to see a high demand for flexible work space solutions in the struggling economy which he believes is “not recovering yet”. Dixon also said that the company will be looking to accelerate expansion opportunities within the US as well as into Asian markets in the long-term.
Sources: Financial Times, CNN.com
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