IWG eyes franchise growth as ‘disappointing’ UK drags on revenue in Q3

Spaces, Regus

Regus owner IWG has said it will continue to “explore a range of strategic opportunities” as it targets growth on the back of a Q3 trading update which showed a rise in global revenues despite a “disappointing” UK performance.

Earlier this week it was reported that Mark Dixon, founder and chief executive of IWG, was looking at separating its flexible office property business, to leave the rest of the group focused on expanding its new global franchising model.

Overall, Q3 revenue increased 10.2% to £637.9m compared with £585.7m in the same period last year, with IWG pointing to strong US performance. Addressing its “disappointing” UK performance the firm said “actions to improve the business are firmly in place”.

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