IWG share price rises despite profit drop

Stock market generic

Source: Shutterstock/ Phongphan

IWG’s share price rose 2.65% on Wednesday to 237.74p after announcing it is set to close some locations in underperforming markets after reporting a fall in 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.

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