ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

IWG Iwg Plc

194.60
-0.90 (-0.46%)
Last Updated: 08:35:52
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Iwg Plc LSE:IWG London Ordinary Share JE00BYVQYS01 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.90 -0.46% 194.60 194.00 194.70 196.30 193.90 194.80 19,647 08:35:52
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Services, Nec 2.96B -215M -0.2136 -9.15 1.97B

IWG PLC Trading Update (0465U)

19/10/2017 7:00am

UK Regulatory


Iwg (LSE:IWG)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Iwg Charts.

TIDMIWG TIDMTTM

RNS Number : 0465U

IWG PLC

19 October 2017

TRADING UPDATE - 19 October 2017

IWG plc, the global leader in the fast-growing Workspace-as-a-Service (WaaS) sector, today issues an update on current trading.

The previously anticipated sales improvement in the third quarter from the increase experienced in sales activity was weaker than expected and this has resulted in a pause in the recovery of the Mature business. Consequently, the year to date reduction in mature revenues to 30 September 2017 has remained similar to that of the first half, with a decline of 1.9% at constant currency. This is disappointing, although the very strong uplift in sales activity so far in October, would suggest that this is in part potentially a timing issue. We also remain encouraged by the revenue growth across all our open centres (excluding closed centres) in the third quarter of 4.4% at constant currency and the improving trends in sales activity, most notably in the fourth quarter to date

The Board remain very positive about the opportunity for the WaaS market and our leading position within it. The Board therefore intends to continue to invest further in growing our national networks, especially in relation to leveraging our network to benefit corporate account customers, where we have won further new contracts. We are also investing in our development capabilities to establish a strong pipeline of growth in future years. In the short-term, however, this will lead to additional overhead costs and new centre losses due to the timing of openings. In addition, we have seen some weakness in London and disruption to other parts of our business globally from recent natural disasters. Group operating profit for 2017 is now expected to be materially below market expectations and in a range of GBP160m to GBP170m.

Conference call details

IWG plc will be hosting a call for analysts and investors at 09.00 BST this morning. Details are set out below:

   Dial in number:              +44 (0) 20 3009 5710 
   Conference ID:               4097459 

This announcement contains inside information.

For further information, please contact:

 
 IWG plc Tel: + 41 (0) 41       Brunswick Tel: + 
  723 2353                       44 (0) 20 7404 5959 
  Mark Dixon, Chief Executive    Nick Cosgrove 
  Officer                        Simone Selzer 
  Dominik de Daniel, Chief 
  Financial Officer & Chief 
  Operating Officer 
  Wayne Gerry, Group Investor 
  Relations Director 
 
 
 This trading update contains certain forward 
  looking statements with respect to the operations 
  of IWG plc. These statements and forecasts involve 
  risk and uncertainty because they relate to events 
  and depend upon circumstances that may or may 
  not occur in the future. There are a number of 
  factors that could cause actual results or developments 
  to differ materially from those expressed or 
  implied by these forward-looking statements and 
  forecasts. Nothing in this announcement should 
  be construed as a profit forecast. 
--------------------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTUKVVRBWARARA

(END) Dow Jones Newswires

October 19, 2017 02:00 ET (06:00 GMT)

1 Year Iwg Chart

1 Year Iwg Chart

1 Month Iwg Chart

1 Month Iwg Chart

Your Recent History

Delayed Upgrade Clock