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Office space provider IWG says new Covid variants will push profits lower

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Company hopes popularity of flexible working will help improve its profitability next year

IWG, the world’s largest flexible space provider, has said lockdowns and new Covid variants will push profits this year well below 2020 levels.

The company, formerly known as Regus, reported a £620m annual loss for 2020, when its finances were hit by social distancing rules, and working from home resulted in empty offices.

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