Thursday, 19 October 2017

Office provider IWG sees shares plunge 30% after profit warning

Shares in IWG have sunk more than 30% after the serviced-office provider issued a profit warning.

The firm, formerly known as Regus, said an anticipated third-quarter sales recovery had been weaker than expected.

Trading in London had seen "some weakness", it said, while parts of its global business had been disrupted by the impact of natural disasters.

Investment by IWG will also raise costs, and it said annual profits would be "materially below" market forecasts.

The company is now predicting full-year operating profits of between £160m and £170m.

BBC       News.

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