Office rental firm upbeat after £15m cost-cutting
Office rental firm Regus said it expects its UK business to return to profit this year, after it found £15m of cost savings.
It blamed “extremely challenging conditions” in 2010 for a 7% drop in UK sales to £178.9m. This was despite opening 23 new centres and winning new business from directories company Yell, which transferred 700 sales consultants to its offices. The UK business made an operating loss of £12.2m in the year. However, Regus bosses are confident that the company can return to profit after making cost savings by closing three centres and renegotiating leases with landlords.