News

Workspace swings to half-year loss

17 November 2008 07:49:00

Office accommodation provider Workspace swung to a loss at the half year stage and said the market will continue to be challenging in the near term.

Pre-tax losses came to £128.5m in the six month ended 30 September compared with a profit of £19.9m last year.

"In the short term we are taking appropriate actions to deal with the instability in the property sector and the wider economy," said the group.

"Longer term, we continue to believe that servicing London's small business community by providing affordable, flexible space, will offer significant opportunity," it added.

The interim dividend is flat at 1.52p per share.

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