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SERVCORP LIMITED Earnings Release 2011

Jul 20, 2011

65859_rns_2011-07-20_06527fc4-5cf2-4417-a206-098e10aeb71b.pdf

Earnings Release

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Thursday 21 July 2011

ASX and Media Release

SERVCORP FINANCIAL YEAR 2011 PRE-AUDIT TRADING SNAP SHOT

Servcorp Limited ABN 97 089 222 506 (SRV), a world leader in providing executive serviced and virtual offices and superior IT and business infrastructure solutions, provides the following trading update for the financial year ended 30 June 2011 (FY 2011).

Operating revenue for FY 2011 increased approximately 8% compared to FY 2010. This increase is despite the strength of the Australian Dollar throughout FY 2011.
Mature floor net profit before tax (NPBT) for FY 2011 is expected to be no less than $30 million, in accordance with guidance provided in previous announcements.
Mature floor NPBT in H2 FY 2011 is expected to be no less than $17 million, an increase of approximately 30% compared to mature floor NPBT of $13 million in H1 FY 2011.
Immature floor losses are expected to be less than forecast and continue to reduce on a month to month basis.
Cash balances of approximately $100 million (unencumbered $91 million) at 30 June 2011, materially above internal forecasts.
Rollout of 40 floors in FY 2011, with 15 new floors projected to open in FY 2012.
Demand for Serviced and Virtual Offices continued to strengthen in H2 FY 2011.
Dividends of 15.0 cents per share are expected to be paid for FY 2012, an increase of 50% compared to dividends of 10.0 cents per share expected to be paid for FY 2011. This payment is subject to currencies remaining constant, global financial markets remaining stable and no unforeseen circumstances.

Audited financial results are scheduled to be released before market opening on Wednesday 24 August 2011.

Servcorp currently operates 116 floors in 51 cities across 21 countries.

For more information contact

Mr Alf Moufarrige	Chief Executive Officer	+61 2 9238 2262
Mr Thomas Wallace	Chief Financial Officer	+61 2 9231 7668