IWG down as profitability takes hit

0 mins. to read
IWG down as profitability takes hit
360b / Shutterstock.com
Master Investor Magazine

Master Investor Magazine 56Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

The share price of FTSE 250 office operator IWG (LON:IWG) fell by 1.52% to 389.30p (as of 12:00 GMT) as it published a trading statement for the quarter ended 30th September. The company’s open centre revenue was up by 15.5% with strong momentum in the UK market and 66 new locations added during the period.

However, while the company was adding to its network, it has also rationalised and closed roughly 4% of its network over the year to date which will have a negative impact on profitability.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *