- Office space provider IWG posted a 10.6% jump in revenue in the first quarter of the year led by double digit revenue growth in the Americas, Asia Pacific and EMEA.

For the three months to 31 March, group revenue increased 10.6% to £658.3m at constant currency, with revenue growth across all its open centres rising by 15.1% at constant currency. 

The rise in revenue led to improved occupancy, driving good constant currency pre-2018 revenue growth and increased gross profit margin.

Pre-2018 (formerly known as mature) revenue growth has continued, growing 6.3% at constant currency, driven mainly by high single-digit growth in the the Americas and EMEA.

Pre-2018 occupancy was up 4.2% to 75.4% from 71.2% in the first quarter of the year.

The performance of larger countries, including France, Germany and Spain, in the EMEA region contributed 'very strongly,' to growth in the quarter, the company said.

During the first quarter, 55 new locations were added, with net growth capital investment of £43.3m, below the £63.4m net investment for 46 new locations in the comparative period of 2018.

'The new 2018 and 2019 location openings are developing in line with expectations,' the company said.

Story provided by