IWG Plc (IWG.L), on Tuesday, reported FY23 loss of £216 million or 21.4p per share compared to a loss of £72 million or 6.9p per share last year.
Loss before tax from continuing operations widened to £189 million from a loss of £105 million in 2022. Loss after tax from continuing operations amounted to £216 million, wider than the prior year's loss of £73 million.
The higher loss from continuing operations was driven primarily by non-cash costs, including one-off non-cash costs related to the write-off of legacy telephony systems and higher one-off network rationalisation charges, and higher lease interest costs. Many of these are not expected to recur during 2024, IWG said.
However, group revenue increased 9% to £2.96 billion from £2.75 billion generated a year ago.
While 2023 was a record year for both revenue and network expansion, the company stated that it is clear that it is only scratching at the surface of its growth potential. With the aforementioned 1.2 billion white-collar workers globally and a potential audience valued at more than $2 trillion, "there is substantial room for growth and as a company, we have a laser-like focus on capturing more of this market over the coming months and years."
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.