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IWG Plc Slips To Loss In H1

IWG Plc (IWG.L) reported first-half loss before tax from continuing operations of £235.4 million compared to a profit of £37.1 million last year.

Loss after tax from continuing operations amounted to £236.5 million versus a profit £32.5 million incurred a year ago.

On a per share basis, loss attributable to ordinary shareholders totaled 26.5p compared to a profit of 33.5p reported in the same period of last year. Adjusted loss per share was 10.8p compared toa profit of 3.6p in the previous year.

Total Group revenue declined 4.4% at constant currency in Q2. Open centre revenue was up 2.5% largely due to the relative strength of April when open centre revenue was up 6.5% April year-on-year. Pre-2019 revenues declined by 7.4% in the second quarter.

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