Office provider IWG shrugs off Trump trade war with record sales
The serviced office space provider IWG generated record sales in March, prompting an increase in returns to shareholders as it reassured markets that the fallout from President Trump's trade war has not had a direct impact on the business.
IWG, which rents out serviced office space under brands including Regus and Spaces, reported a 2 per cent increase in revenue to $1.05 billion in the three months to the end of March as it continued to cash in on the growing popularity of hybrid working. The group's solid performance prompted bosses to increase its share buyback to $100 million, up from $50 million.
By the end of the first quarter IWG said it had 202,000 'rooms' — equivalent to small offices — open, compared with
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