IWG increases its 2017 full year dividend by 12%

DividendMax Ltd.

IWG increases its 2017 full year dividend by 12%

IWG 2017 final results

Attractive post-tax cash returns. Return on pre-2013 investment of 20.8%(i)

•   Net growth capital investment of £272.5m, of which £110.2m on property assets with flexible workspace operations

•   Group revenue of £2,352.3m, with revenue growth improving in Q4 and since period end

•   Mature revenue returned to year-on-year growth in Q4, with a 0.5%(ii) improvement (Q3: 1.8%(ii) decline)

•   Overheads reduced 12%; down 170bp as a percentage of revenue to 10.1%

•   Operating profit of £163.2m, in line with previous guidance

•   Cash generation (before net growth capital expenditure, share buybacks, and dividends) of £215.5m (23.5p per share)

•   Strong financial position maintained with net debt of £296.4m (0.8x net debt : EBITDA)

•   12% increase in dividend to 5.70p (2016: 5.10p), reflecting confidence in long-term outlook


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