Shared-offices slump as recession bites

Rent-a-desk group Regus admitted today that fewer people are taking up workstations in shared offices as the recession bites.

International expansion taking on new serviced offices helped Regus to increase 2008 profits by 25% to £149 million, sending the dividend up 80% to 1.8p.

Chief executive Mark Dixon said he is making sure the leases he takes on buildings are flexible and short-term.

But he added: "In the last two months of 2008, the increasing pressure we were seeing on our revenues translated into a softening in our occupancy and price which has continued into 2009."