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IWG Q3 Open Centre Revenue Up 15.5% - Quick Facts

IWG plc (IWG.L), an operator of co-work and workspace companies, issued its trading update for the period ended 30 September 2019.

IWG noted that in the three months ended 30 September 2019, revenue growth across all its open centres, excluding closed centres, increased 15.5 percent at constant currency. Open centre revenue rose 19.5 percent at actual rates.

Third-quarter revenue for the total Group, including closed centres and adjusted for discontinued activities, increased to 692.3 million pounds from 611.6 million pounds in the same period last year. This represents an increase of 9.4 percent at constant currency and 13.2 percent at actual rates.

The increase in revenues continued to be driven by the Americas and EMEA, the company's two largest markets, and encouraging contributions from the 2018 and 2019 centre additions.

Looking ahead, IWG said it looks forward to the rest of the year with confidence. IWG remains very confident in the structural, long-term growth in the flexible workspace market.

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