Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Servcorp Limited Announces FY2018 Interim Results


News provided by

Servcorp Limited

25 Feb, 2018, 10:19 GMT

Share this article

Share toX

Share this article

Share toX

DUBAI, UAE, February 25, 2018 /PRNewswire/ --

Combined revenues from Middle East and Europe AUD 38.8 million (USD 30.2 million)  

This image opens in the lightbox
Taine Moufarrige (PRNewsfoto/Servcorp Limited)

Strategic growth initiatives underway; group operating profit up 7.7% on first half of FY2017 

  • Group operating cash flow up 13.1% to AUD 19.9 million (USD 15.5 million) 
  • Strong balance sheet and stable outlook supported by cash balance increase of 5.3% 
  • Investment in strategic growth already deployed in key Middle East and European markets 
  • Confirmed interim dividend of AUD 0.13/share (USD 0.10/share) 

Servcorp Limited ("Servcorp"), a pioneer and innovator in serviced offices, virtual offices and co-working environments, has announced its interim financial results for the six months ended 31 December 2017. At the end of the last period (1 July 2017 to 31 December 2017), Servcorp's operating cash flows increased by 13.1% over the same period in 2016 to reach AUD 19.9 million (USD 15.5 million), with a strong balance sheet and stable outlook supported by a cash balance increase of 5.3% since 30 June 2017.

     (Photo: https://mma.prnewswire.com/media/645838/Servcorp_Taine_Moufarrige.jpg )

Servcorp's operations in the Middle East and Europe delivered combined revenues of AUD 38.8 million (USD 30.2 million), while Servcorp's revenue was AUD 153.3 million (USD 122.2 million), with net profit before tax of AUD 19.2 million (USD 15.0 million). An interim dividend payment of AUD 0.13/share (USD 0.10/share) was also confirmed.

On announcing its interim financial results, Servcorp's management highlighted a set of significant strategic initiatives that are underway, and will be key future growth drivers. Expansion of operations to enable accelerated growth in target markets in Europe, the Middle East and India are already progressing, along with further enhancements to Servcorp's unified global IT platform.  

Taine Moufarrige, Executive Director at Servcorp, commented:

"Our objective is to cater to businesses that want to be successful at all stages of growth, providing both an office infrastructure and business community in which they can flourish. Our business model is purpose-built to deliver on this objective, and we are confident that it will continue to perform. With stronger sales in the Middle East and Europe to date in the current quarter, we expect this geography to deliver a strong second half." 

The recent rapid growth in the global market for shared office space has seen the Company commit to invest AUD 20 million (USD 15.6 million) in its co-working offering, successfully pivoting both office design and customer experience towards this high-growth segment. This investment has already seen Servcorp open new co-working spaces globally, including in London and in Middle Eastern markets including Abu Dhabi, Beirut and Jeddah, and is expected to be fully deployed with the launch of new workspaces by the end of calendar year 2018.

Servcorp's programme for enhancing floor design and customer experience across its existing office footprint has shown encouraging early results and will continue during the remainder of the 2018 calendar year. In parallel, the company has invested in unlocking more of the value inherent in its technology platform. Servcorp, which is headquartered in Sydney and listed on the Australian Securities Exchange (ASX:SRV), is a global company employing 850 staff and servicing 35,000 members in 53 cities across 23 countries.

The Company reports its financial results in Australian dollars, with US dollar values for the reporting period ended 31 December 2017 converted using average rates for the same period. Rates are as issued by the Reserve Bank of Australia.  

Notes to Editors 

About Servcorp Group 

Founded in Australia in 1978 by Alf Moufarrige, Servcorp has grown from a quarter-floor in Sydney's MLC Centre into a global brand employing 850 staff, servicing 35,000 members in 53 cities across 23 countries. With a 40-year track record, the business is widely regarded as both a pioneer and innovator in serviced offices, shared workspaces and co-working environments.

Servcorp provides members with access to premium addresses in the world's major cities, cutting-edge IT technology solutions and excellent services. The Company's core products are Serviced Offices, Virtual Offices and Co-Working spaces. These products are all supported by a proprietary IT infrastructure that includes global call forwarding, high-speed internet, dedicated receptionist services and 24/7 voicemail to email. Servcorp Membership provides global access to meeting rooms, day offices, co-working lounges, bilingual secretaries and connectivity with 35,000 community members.

The Company is currently focused on growing its co-working offer, with new designs and fit-outs for workspaces supported by sophisticated online and digital services. Listed on the Australian Securities Exchange since 1999 (ASX:SRV), Servcorp continues to give entrepreneurs and larger corporates access to the resources of a big business without the fixed liabilities.

The Servcorp group has been on a strong financial growth trajectory since its foundation and continues to deliver superior returns. Its outstanding intellectual property, developed over four decades, and a diversified income stream has made Servcorp resilient to market fluctuations and well-positioned to leverage the next phase of growth in the shared workspace market.

For further information, please contact:

George Allen
Instinctif Partners
+971-5660-96749
George.Allen@instinctif.com

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.