Regus swings to loss on UK restructuring costs

Regus opened 44 new centres in the six-month period

Office rental firm Regus has swung to a pre-tax loss in the first half, after being hit by restructuring costs of £15.8m in the UK.

Regus made a loss of £6.1m in the six months to June, compared with a £69m profit in the same period a year ago.

But the company said that despite the "challenging" trading environment, it was continuing to open new centres.

Regus, which rents out ready-to-use offices for as little as half a day, said revenues fell 7.5% to £515.5m.

However, the company raised its interim divided to 0.85 pence per share from 0.8 pence per share a year earlier.

Shares in Regus clawed back earlier losses and closed almost 3% higher on Friday.