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LONDON BRIEFING: IWG warns on


LONDON BRIEFING: IWG warns on prolonged impact of virus restrictions
Mon, 7th Jun 2021 08:13
(Alliance News) - A leading provider of office workspace in the UK on Monday issued a profit warning, as continue lockdown restrictions and government advice to work from home drag on deeper into 2021.
IWG guided to full-year earnings well below 2020 due to a slower-than-expected recovery.
The flexible office provider said it has continued to see strong recovery in some of its markets since updating on first quarter activity, but the overall improvement across the group has been less than expected due to prolonged Covid-19 fallout, including lockdown restrictions and the emergence of new variants. ....

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Ocean Outdoor plunges deeper into loss after Covid buffets trading


Ocean Outdoor plunges deeper into loss after Covid buffets trading
Tue, 4th May 2021 13:51
(Alliance News) - Ocean Outdoor Ltd on Tuesday said its loss widened significantly in 2020 as out-of-home advertising suffered from lockdowns keeping people in-the-home.
The London-based operator of digital advertising reported a pretax loss of GBP184.3 million for 2020, substantially greater than the GBP6.2 million seen the prior year.
Revenue dropped by 17% year-on-year to GBP86.2 million from GBP104.0 million, but the loss was mainly the result of a GBP142 million impairment charge, compared to none the year before. The impairment was of intangibles and investments in associates.
However Ocean Outdoor said the outlook for 2021 is beginning to improve, with weekly bookings up and the feeling that momentum is building following the vaccine rollout. ....

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