Global flexible workspace provider IWG has reported a 48% increase in half-year 2023 profit due to high demand and improved pricing for its spaces amidst the hybrid working trend.
The company’s system-wide revenue, encompassing franchise and joint-venture partner earnings, surged 16% to a record £1.68 billion for the first half of the year, driven by growth in core markets (such as the UK 🇬🇧, the US 🇺🇸, Germany 🇩🇪, and Japan 🇯🇵) and expansion into new ones (such as India 🇮🇳, China 🇨🇳, and Brazil 🇧🇷).
IWG’s adjusted core profit from continuing operations rose by 48% due to higher occupancy and pricing across its network of over 3,300 locations in 120+ countries.
The company capitalized on hybrid working demand with its digital platform, Worka, which achieved a 32% revenue increase to £153 million in H1.

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