Serviced offices giant IWG had a busy September
(Picture: IWG)IWG had its best monthly performance so far this year in September, but the serviced offices giant still saw quarterly revenues decline at a time when employers continue to look at post-pandemic workspace plans.
The company has more than 3300 sites and offers desks and meeting rooms via lettings that can be monthly, weekly and daily.
The FTSE 250 firm today said: “The rapid adoption of hybrid working, both for enterprises and smaller businesses, is increasing the demand for the group’s services and improving performance in all major markets.”
It expects to benefit as more firms look for flexible space options. IWG added: “This seismic change in how businesses and employees plan their work is, we believe, significant, irreversible and transformational for our business.”
However, the firm still recorded a decline in third quarter revenue. Sales of £550.8 million in the three months to September 30 were 3.7% lower at actual currency levels, and 0.3% down at constant currency levels.
But in September it recorded its strongest month of the year. Numerous employers had planned to have staff back in offices, for at least part of the week, that month as summer holidays ended.
The firm, led by Mark Dixon, also said it has undertaken a preliminary review to look at the possible benefits of separating its digital and tech assets, which includes online bookings system Worka in the US, away from the core office estate business.
