IWG : Update on Investment Programme
UPDATE ON INVESTMENT PROGRAMME - 25 May 2017
Pursuant to the Q1 trading update of 2 May 2017, IWG plc has seen some recent acceleration of investment activity.
This activity has included the acquisition of a number of freehold and long-leasehold properties which have flexible workspace operations. Current visibility on net growth capital expenditure for the financial year ended 31 December 2017 is now approximately £230m. This represents approximately 280 locations and 4.8m sq ft.
Our financial expectations for the year remain otherwise unchanged and as described on 2 May 2017.
For further information, please contact:
IWG plc Tel: + 41 (0) 41 723 2353
Dominik de Daniel, Chief Financial Officer & Chief Operating Officer
Wayne Gerry, Group Investor Relations Director
Brunswick Tel: + 44 (0) 20 7404 5959
This trading update contains certain forward looking statements with respect to the operations of IWG plc. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this announcement should be construed as a profit forecast.