LONDON (dpa-AFX) - IWG Plc (IWG.L), a hybrid workspace provider, Tuesday reported revenue of 760 million pounds for the first quarter, 25% higher than 609 million pounds a year ago.
The company said revenue growth was primarily driven by improved pricing and occupancy.
IWG's net debt declined to 683 million pounds in the first quarter from 764 million pounds a year ago.
Further, the company said it has achieved carbon neutrality for the first quarter and expect to remain carbon neutral for the remainder of 2023 and beyond.
'In the first quarter of 2023 we continued to deliver record levels of revenue. I'm pleased to see that we are combining this with margin expansion, enhanced cash flow generation, and building on our capital-light growth strategy,' said Mark Dixon, Chief Executive of IWG.
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