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”.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article

Registration includes the following benefits:

  • Access up to four FREE articles per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.

Registered users and subscribers SIGN IN here to continue