Office rental group IWG has warned that profits will be down in 2021 due to the pandemic (Kirsty O’Connor/PA)Office rental group IWG has warned that profits will be well below 2020 levels as the Covid-19 pandemic continues to affect its business. But bosses said they remain confident that they will see a strong recovery next year and have seen unprecedented demand for flexible office space as companies adopt hybrid working. IWG said: “Accordingly, this will delay the anticipated recovery in our business” and warned it will have a “significant impact” on the group’s results for 2021. Interest in partnering with IWG continues to strengthen significantlyThe firm added: “Since our first-quarter trading update, we have continued to see unprecedented demand for our flexible work products as many more enterprises adopt hybrid working. “Interest in partnering with IWG continues to strengthen significantly and we have a very strong pipeline of potential partners wanting to work with us to grow the platform.

Source: Irish Independent June 07, 2021 06:41 UTC