IWG cautious but confident on 2024 after record revenues

Hybrid-working office space provider IWG reported a sharp rise in annual profits but held a cautious line on 2024 prospects, despite bringing in record revenues last year.

Core earnings jumped 34% to £402m while annual group revenue rose 8% to £2.96bn as companies start to embrace more flexible working arrangements with staff.

The owner of the Spaces and Regus brands said it “remains cautious in its outlook and continues to focus on driving efficiencies and cost control”.

"While 2023 was a record year for both revenue and network size, we continue to see significant growth potential," said chief executive Mark Dixon.

Reporting by Frank Prenesti for Sharecast.com