StockMarketWire.com - Serviced office specialist IWG reported a 13.2% rise in third-quarter revenue amid a strong performance in the Americas and Europe.

Revenue for the three months through September rose to £692.3m, the company said.

Open centre revenue, which IWG said was a good indicator of future performance, climbed 15.5% and 15.4% for the nine months to 30 September, with occupancy up 3.1% points to 76% for the period from a year earlier.

The uptick in revenue was driven by the Americas and EMEA, the company's two largest markets, and 'very encouraging' contributions from 2018 and 2019 centre additions, IWG said.

The company added 66 new locations in the third quarter, taking its worldwide total to 3,348.

'We believe our transition to a franchising model by partnering with a growing and diverse range of third parties will deliver a quicker and more asset light approach to growth, which benefits all stakeholders,' IWG said.

Story provided by StockMarketWire.com