IWG sees ongoing hybrid lift to business

IWG has seen revenue rise over the start of the year, with chief executive Mark Dixon hailing a continued pivot by corporate occupiers to hybrid working practices. The co-working office operator said revenue was up by 2% year-on-year to just over $1bn in the three months to 31 March. IWG said momentum had been seen in managed and franchised space as well as space the company owns or leases. “The first quarter of 2024 produced good year-on-year underlying revenue growth showing that the move to hybrid working continues,” Dixon said. “We are delivering on our plan to grow in a capital-light way, and the momentum in signings, and importantly openings, continues to accelerate. We remain committed to our strategy of growing our network coverage and giving our customers a great day at work.”