OFFICE space provider Regus said it is trading in line with expectations, in an update today.

The global managed workspace specialist said revenues in the four months to October 31 rose to £336.5m compared with £332m during the same period last year.

Its net cash total stands at £190.3m, compared with £224.2m at June 30 this year.

But the company, which operates office space in Liverpool’s Exchange Flags, said it had invested almost £30m in expanding its global reach through 92 new centres, including three new markets in Tanzania, Lithuania and Oman, and had allowed for a £6.1m charge for its UK restructuring plans.

A sum of £11.3m had also been returned to shareholders through its interim dividend and the purchase of some of its own shares.

Today’s statement said: “We remain committed to our growth programmes supported by the ongoing evolution of the flexible workplace market.

“Looking forward, while we remain cautious in our outlook, we are confident that the measures and actions taken in 2010 will support improvements to our business in 2011.”

Liverpool stockbroker Panmure Gordon said: “We maintain our forecasts and target price of 90p, which implies just 12% potential upside following a share price rally yesterday.

“The shares look good value longer term.”