International Workplace Group PLC (OTCPK:IWGFF)

$ 2.15 -0.05 (-2.27%) Market Cap: 2.22 Bil Enterprise Value: 9.81 Bil PE Ratio: 0 PB Ratio: 51.03 GF Score: 76/100

Q4 2020 IWG Plc Trading Statement Call Transcript

Jan 20, 2021 / 08:30AM GMT

Release Date Price: $4.4 (-0.68%)

Transcript

Operator

Welcome to the IWG plc trading update. (Operator Instructions) Just to remind you, this conference call is being recorded.

Today, I am pleased to present Mark Dixon, Chief Executive Officer; and Eric Hageman, Chief Financial Officer. Please begin your meeting.

Mark Dixon

IWG plc - CEO & Executive Director

Thank you, operator, and good morning, everyone, and welcome to today's year-end update ahead of the publication of our full year results on the 9th of March 2021.

We're doing this update in the light of the ongoing pandemic, which has experienced various new twists and turns recently, which we believe will prolong the impact on our business. This is disappointing, given the early signs of recovery, particularly regarding sales activity in the fourth quarter. In light of this, the key announcement today is that we're taking prudent but decisive action to further expand the network rationalization program, increasing it by a similar amount to the original program we announced with the interim results on the 4th of August 2020. This will

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