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Office space provider IWG reported a fall in revenue in the third quarter, and said it was considering separating its digital, technology, and property assets into a separate business.
In the three months ended 30 September 2021, system-wide revenue fell 3.4% to £620.7 million.
Revenue across the company's open centres increased 5.2% at constant currency, with all four regions recording positive revenue growth year-on-year.
The company said its cost optimisation programme was on track to deliver an underlying annualised run rate cost reduction of approximately £320 million by year-end.
IWG said it had taken a preliminary review to assess the strategic and commercial rationale for separating the digital, technology and property assets of the group into a separately identified and constituted business.
Looking ahead, the company said the occupancy and pricing run-rate achieved in the third quarter and in September in particular, underpinned its 'confidence in delivering results for 2021 in line with management's expectations.'