CHERTSEY, United Kingdom, Nov. 9, 2001 (PRIMEZONE) -- Regus plc, the international serviced office provider (LSE:RGU.L) (Nasdaq:REGS), announces its results for the three months ended September 30, 2001.
In announcing the results, Chairman George Gray commented: "We have conducted a fundamental reassessment of our business model focused on pricing, occupancy and cost, taking some 60 million pounds out of the cost base. Our new strategy of discounting prices for longer-term contracts is now yielding benefits with the third quarter seeing a substantial increase in the number of workstations occupied.
"Looking to the future, the forward-order book remains strong. Inquiry levels suggest corporates continue to look to Regus for cost-effective, flexible, quality solutions for their office requirements. With capital expenditure set to fall very significantly, we expect to be cash generative going into next year, even at current trading levels. Given present economic conditions, our radical re-structuring of the business means we can be guardedly optimistic about 2002."
The full text article with tables can be found at the following link: http://reports.huginonline.com/839823/96649.doc