LONDON (dpa-AFX) - IWG plc. (IWG.L) reported that its total revenue for the first-quarter declined 23.6% to 528.3 million pounds from 691.9 million pounds in the prior year, while it was down 20.9% at constant currency basis.
Open centre revenue was down 16.1% or 19.1% at actual rates. Pre-2020 revenue was down 20.1% or down 22.8% at actual rates.
The company noted that pre-2020 occupancy stabilized in February and occupancy growth resumed in March to 66.6%. The company expects the momentum to continue throughout the second-quarter.
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