IWG, the world’s biggest serviced office group, has issued its second profit warning in little over eight months as it expands aggressively to stay ahead of US start-up WeWork.
The UK-listed office operator, which has seen a flurry of interest from acquisitive buyout groups in recent months, said 2018 operating profit would be £15m to £20m below previous estimates.
In a market update on Wednesday, IWG said the extra losses were caused by it taking on more leases than it initially forecast.
