WeWork rival IWG's half-year profit surges on high demand, improved pricing
People use laptops in a Spaces office workspace, an IWG brand, in London, Britain, December 1, 2021. REUTERS/May JamesRevenue from digital platform Worka jumps 32%retained a "cautiously optimistic" outlook after posting a 48% surge in half-year profit on Tuesday, helped partly by high demand for its spaces and improved pricing.
"Our outlook for the full year remains cautiously optimistic given the growing demand for hybrid working solutions tempered by FX headwinds and a challenging economic and competitive environment," the company said in a statement. Switzerland-headquartered IWG said its half-year system-wide revenue, which also includes revenue from franchise and joint-venture partners, grew 16% to a record 1.68 billion pounds.
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