Regus turnover down 11.2% for third quarter

In the third quarter global revenues fell 11.2% to £109.3 million from £123.1 million in the same period last year. Pre-tax losses were £15.4 million compared with a £98 million loss in the third quarter of 2001.

Chairman John Matthews said: 'Revenues have been stable for three consecutive quarters and our cost base is firmly under control. Our forward order book remains firm. By 1 January 2003, we expect to have contracted half of next year´s budgeted workstation revenues. Nonetheless, these remain difficult times for the business services sector.'

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(source: Regus)

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