Q1 2023 IWG Plc Trading Statement Call Transcript
Hello and welcome to the IWG Quarter 1 Trading Update conference call. My name is Caroline, and I will be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions) I will now hand over the call to your host, Mark Dixon, Chief Executive Officer, to begin today's conference. Thank you.
Hello. Good morning, everyone, and thank you for joining our Q1 statement and for your continued interest in IWG. The update this quarter is quite light given we did have full year results for 2022, only a few weeks ago. However, looking to this quarter, we had really an excellent start to the year, and we're continuing to deliver on our range of promises that we talked about at the full year.
Revenue has increased to GBP 760 million, that's 22% up year-on-year, and 4% up quarter-on-quarter. The quarter-on-quarter increase has been driven both by pricing and occupancy increases. And the Q1 2023 revenue includes now a full quarter of The Instant Group. We continue to see
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