IWG announced a share buyback program worth $50 million and raised its dividend to 1.33 pence per share after reporting impressive earnings growth despite flat revenue. EBITDA rose by 11% to $557 million, while operating profit surged by 226% to $114 million. The company, which provides flexible workspaces, is benefitting from a return to office culture, with nearly 900 new centers signed. CEO Mark Dixon emphasized the strategic growth phase the company is entering, supported by favorable market conditions, positioning IWG as the leading player in the global coworking sector.
IWG's share buyback and increased dividend reflect the company's robust earnings growth amidst a strong demand for flexible workspaces highlighted by record openings.
Mark Dixon stated that IWG is at an 'inflection point', suggesting that previous investments and efforts are beginning to pay off in the form of growth and industry leadership.
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