Business Description:
Servcorp Limited (SRV) is involved in the provision of executive serviced and virtual offices and IT, communications and secretarial services to companies and individuals both in Australia and overseas. The largest facilities are located in Japan and Australia with operations also in New Zealand, South-East Asia, Greater China, France, United Arab Emirates, Qatar, Belgium and Bahrain.

Strategy Analysis:
SRV has been active in diversifying its serviced office portfolio by moving in to new markets. The Office Squared business has been scaled back considerably. The Indian market all but collapsed in 2009 but is improving. 3 floors were closed in FY2010 but 13 new floors were opened globally. A 2010 Capital raising of $80m will fund future expansion plans. Servcorp reported NPAT up 24% to $2.49m for the year ended 30 June 2011. Revenues from ordinary activities were $182.06m, up 8% from last year. Basic and Diluted EPS were 2.50 cents compared to 2.20 cents last year. Net operating cash flow was $18.79m compared to $8.80m last year. The final dividend declared was 5.00 cents, taking the full year dividend to 10.00 cents compared with 10.00cents last year.