Servcorp

If you want a clue as to how the global economy is doing, you’ll find it in Servcorp’s expansion program. The company was originally planning to open up to 15 floors in 2012, but has scaled that back to nine. The tough climate means that newly opened floors are taking longer than expected to become profitable. Out of the company’s 47 immature floors, only two—London and Jeddah—began producing profits in the half. Despite this, the company reported a decent result in the first half of 2012. Revenue rose 11% (or 16% in constant currency terms) to $99.4m, while net...

If you want a clue as to how the global economy is doing, you’ll find it in Servcorp’s expansion program. The company was originally planning to open up to 15 floors in 2012, but has scaled that back to nine. The tough climate means that newly opened floors are taking longer than expected to become profitable. Out of the company’s 47 immature floors, only two—London and Jeddah—began producing profits in the half.

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