International Workplace Group Plc, or IWG Plc (IWG.L), a provider of office spaces, on Tuesday reported a profit before tax for the full year, helped by a decline in expenses and a slight improvement in revenue.
In addition, IWG has announced a $50 million share repurchase program.
For the 12-month period to December 31, 2024, the Group posted a profit before tax of $53 million, compared with a loss of $237 million in the previous year. Excluding items, loss before tax narrowed to $33 million from last year's $142 million.
Net profit stood at $19 million, or 2 cents per share, as against a loss of $271 million, or 26.7 cents per share, a year ago. Adjusted loss moved down to $67 million, or 6.5 cents per share, from the prior year's $176 million, or 17.3 cents per share.
Operating profit was $510 million, higher than $179 million in 2023. Adjusted EBITDA increased to $1.824 billion from $1.768 billion a year ago. Cost of sales, incl. lease depreciation, declined to $2.586 billion from last year's $2.957 billion.
Revenue was $3.690 billion, compared with $3.689 billion a year ago.
The Board will pay a final dividend of 0.90 cents per share on May 30 to shareholders on the register as of May 2.
Looking ahead, the Group said: "We remain cautious given continued global macroeconomic uncertainty and volatility. In the short term we expect continued growth in pre-IFRS 16 EBITDA with FY 2025 expectation of $580m to $620m, net debt/EBITDA continuing to fall and centre growth and signings above FY 2024 levels. In the medium term we continue to target $1bn pre-IFRS 16 EBITDA. We also reiterate our commitment to maintaining a BBB credit rating."
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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.