MoneyAM MoneyAM
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Research   Share Price   Awards   Indices   Market Scan   Company Zone   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Stock Screener   Forward Diary   Forex Prices   Director Deals   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Videos   Comparison Tables   Spread Betting   Broker Notes   Shares Magazine 
You are NOT currently logged in

 
Filter Criteria  
Epic: Keywords: 
From: Time:  (hh:mm) RNS:  MonAM: 
To: Time:  (hh:mm)
Please Note - Streaming News is only available to subscribers to the Active Level and above
 


Workspace posts surging half-year profit due to consistent rent demand

ALN

Workspace Group PLC's profit multiplied in the first half of its financial year, due to customer demand and a rapid Covid-19 recovery, it said on Tuesday.

The London-based flexible office space provider's pretax profit rose to £35.8 million in the six months that ended on September 30 from £3.4 million a year ago, while revenue rose to £82.3 million from £61.2 million.

Workspace declared an interim dividend of 8.4 pence per share, up 20% from 7 pence a year before.

Property valuation remained stable, increasing by 0.3% to £2.9 billion on September 30 from March 31.

"Despite the current economic challenges, we are well placed to deliver a strong trading performance for the full year. We have good momentum from the rental growth in the first half, and we are seeing resilient customer demand into the second half of the year," said Chief Executive Officer Graham Clemett.

Workspace cautioned that despite continued rent growth, its pricing remained below pre-Covid levels.

Shares in Workspace were up 0.3% to 483.20 pence on Tuesday morning in London.

Copyright 2022 Alliance News Limited. All Rights Reserved.