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BUZZ-Regus: among FTSE midcap losers after trading update
November 3, 2015 / 10:42 AM / 2 years ago

BUZZ-Regus: among FTSE midcap losers after trading update

** Regus down c.3 pct, 3rd top FTSE-250 midcap loser & on-track for sharpest loss since late-August as market takes the shine off stock after largely in-line results

** Office space supplier posts Q3 rev at constant currency rises 17.3 pct & says remain confident in FY outlook

** Stock up c.60 pct YTD & trading at premium to its Starmine Intrinsic Value estimate

** Co also says it has visibility on net capex for 2015 of about 250 mln stg, roughly 550 locations -- a 20 mln stg increase on interim guidance

** Increasing debt a long-running concern over Regus, as market fears its steep capex outlook & rapid expansion year after year will would shoot up debt & reduce earnings

** Co’s net debt at Sept. 30 2015 of 146.4 mln stg, higher than 136.9 mln stg at June 30

** However, sentiment on stock massively positive with 6 of 9 analysts rating it “buy” or higher, according to Reuters data (RM: esha.vaish.thomsonreuters.com@reuters.net)

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