Company
IWG PLC
LON:IWG
IWG is a provider of outsourced workplace solutions. With approaching 3,000 locations in over 100 countries and 1,000 cities across the world, IWG is the global leader in the fast-growing Workspace-as-a-Service (WaaS) sector. Our companies – which include Regus and Spaces – help more than 2.5mln people and their businesses to work more productively. We do so by providing a choice of professional, inspiring and collaborative workspaces, communities and services.
46 stories
IWG lowers profits guidance despite strong third quarter
EBITDA is forecast at the bottom of the £304mln-£380mln range, the company said with broker Peel Hunt suggesting forecasts for full year 2023 could also come down
IWG tumbles as analysts flag recession risks
The shares tumbled 17% to 160p in early trading on Tuesday
Archive
Market movers: Just Group's first half results drive shares higher
A look at some risers and fallers on the market on Tuesday.
IWG says hybrid working powers demand for office space as revenues jump 22%
Chief executive Mark Dixon, a veteran of the office rental industry, provided a short summary of prospects as he said “we look forward with cautious optimism to the remainder of 2022"
Britain has adopted a three-day workweek says office group IWG
"The era of long daily commutes is well and truly over"
Tesco trials office space in its stores with Regus owner IWG
IWG plans to add 1,000 new locations to its network this year, and reported the last quarter of 2021 as the company's best-selling quarter in more than 30 years
Hybrid working can save businesses thousands, new research suggests
A reduction in carbon footprint, better work/life balance for employees and improved work performance are all by-products of hybrid work life
IWG confirms review for potential separation but no decision made yet
The office space group is also looking at how it could more broadly leverage its intellectual property, alongside the ownership structure of the property portfolio
IWG working on potential break-up - report
Analysts were sceptical of the value and likelihood of such a break-up
IWG receives strong demand for flexible products but full recovery eyed next year
The office space provider signed up 900 new enterprise customers in the first half as companies are looking to change their habits in a post-pandemic world
IWG: New York private equity group not interested
Analysts said there was positive read-across to other London office owners
IWG warns over trading as recovery comes through slower than expected
Underlying group EBITDA for 2021 is now expected to be well below the level in 2020
IWG cuts office network back further as COVID-19 recovery slower than expected
IWG expects challenging market conditions for a few months to come
IWG suffers greater than expected pandemic hit as revenues shrink in third quarter
The office space firm also reported a 4.1 percentage point decline in occupancy during the period to 70.5% amid a rise in remote working across the economy
IWG expects tough third quarter as interim loss widens
n the six months to June 30, revenue slid 3% to £1.3bn
IWG raises £320mln in share placing as it expects significant hit to quarterly sales
The firm is looking to adjust its spaces to social distancing demand and take advantage of merger and acquisition opportunities
Archive
FTSE 100 closes higher despite dismal US data
Britain's blue-chip index finished up over 74 points at 6,218
IWG suspends share buyback programme and puts the dividend on hold
The serviced office space provider is expecting there to be pressure on its business as more countries impose lockdowns
IWG sacrifices profits to reshape office network
The FTSE 250-listed company cut 4% of its network in the nine months to 30 September, with year-to-date profits losing £28mln
IWG to sell Swiss co-working business for £94mln
The move follows the sale of the serviced office group's Japanese business for £320mln with exclusive franchising rights in April
Investments and investor services
FTSE 100 closes higher and global stocks rally as trade fears seem to ease
On Wall Street, the Dow Jones Industrial Average is up 287 points at the time of writing
Archive
Jobs figures take macro spotlight on Tuesday while LandSec leads company reports
Analysts at RBC Capital Markets are expecting the UK jobless rate to remain below 5% for a third successive month
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FTSE 100 closes firmly lower as investors shun risk and amid Brexit deal chatter
The UK's premier share index finished down nearly 33 points at 7,385
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Will Next spring a surprise in Wednesday’s first-quarter trading update?
There’s a lot for investors to get their teeth into on Wednesday, with Sainsbury’s, GSK and Persimmon among the slew of companies reporting alongside Next
Credit Suisse double-upgrades IWG to ‘outperform’ from ‘underperform’ on Japan strategic partnership news
“It is early in the process with limited tangible progress but management is clear that it has received significant interest at attractive prices for certain IWG assets,” the Swiss bank's analysts said
Office giant IWG sells off Japanese business for £320mln
IWG, which used to be known as Regus, will provide TKP with services such as access to its sales platform and its operational technology, for which TKP will pay a fee linked to revenue
Investments and investor services
FTSE 100 closes flat as traders don't know which way to turn
Footsie closed down around 0.19 at 7,436, while mid-cap FTSE 250 was up around 95 points at 19,807
IWG’s franchising strategy could see share price “more than double”, says Peel Hunt
The broker upgraded IWG to ‘buy’ from ‘hold’ and lifted its target price to 351p from 190p, saying the move to potentially franchise out whole parts of the business “could release a lot of value”
IWG upgraded by RBC on in-line full-year results and positive outlook
RBC Capital Markets raised its recommendation on IWG to ‘sector perform’ from ‘underperform’ and lifted its price target to 260p from 200p
Berenberg downgrades Workspace, initiates three other property stocks as it launches coverage of London office market
Berenberg's analysts concluded: “Capital values and rents are at all-time highs and have begun to turn, while increasing tenant expectations are putting pressure on operating margins and increasing building obsolescence”
IWG shares jump as serviced offices group posts strong growth in revenues, driven by overseas operations
For the three months to the end of September, FTSE 250-listed group saw its revenue increase by 10% at constant currency rates to £637.9mln, up from £585.7mln a year earlier
IWG CFO Dominik de Daniel steps down in wake of profit warning
IWG has appointed Eric Hageman as interim CFO until a permanent replacement for Dominik de Daniel is found
RBC Capital cuts rating for IWG to ‘underperform’ as it thinks “risk reward is not in favour”
Back at the start of August, IWG - formerly known as Regus - said it had abandoned takeover talks with three remaining bidders saying none were capable of delivering an executable transaction at a recommendable price
What's in a name? A dog by any other name ...
Sometimes, changing a company's name is like putting a lick of paint over a woodworm-infested bench
IWG shares plummet as it ends takeover talks with three suitors
IWG reported a 33% drop in first-half pre-tax profit, blaming investments in refurbishments and talent, higher marketing spend and a weak UK market
Prime Opportunities pulls out of the race to buy IWG
Real estate investor Prime Opportunities didn’t give a reason but said it would not be making an improved offer for IWG
IWG slumps as it issues profit warning despite strong global sales
In a trading update, the FTSE 250 workspace provider said its UK business was “not performing to management expectations"
Bidding war for IWG heats up as Terra Firma Investments joins the race
IWG has been contacted by Terra Firma Investments about a possible all-cash offer
IWG up as US firm Prime Opportunities Investment reveals UK firm rejected cash takeover approach
Prime Opportunities did not provide any financial details of the rejected offer but said it will continue to "actively" consider the possibility of making a new offer for IWG
MTI Wireless shares fall as it reports decrease in revenues and profit
A look at some of the top risers and fallers in London on Monday
FTSE 100 closes in red as there is little around to spark investor interest
FTSE 250 fared better though closing ahead by around 15 points at 20,800.