IWG reveals further UK closures as profit falls

Mark Dixon

Serviced office group IWG is set to close some locations in underperforming markets, including in the UK, to bring its performance back on track, after reporting a fall annual pre-tax profit.

IWG recorded a 7% drop in pre-tax profit of £138.7m for the year to 31 December, compared to £149.4m in 2017. However, the group reported a 7.8% rise in revenue to £2.5bn. Earnings per share were down 6% to 11.7p, while net debt was up 43% to £460.8m.

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