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IWG expects annual core profit well below pandemic-hit 2020

June 7 (Reuters) - Office space provider IWG said on Monday its underlying core earnings for the current year will be well below the crisis-hit 2020 level, as lockdown restrictions continue in some markets and new variants of COVID-19 emerge.

The UK-listed owner of the Regus brand, however, said it has continued to see “unprecedented demand” for its hybrid work options and that its expectations for a strong recovery in 2022 are broadly unchanged.

Reporting by Muvija M and Chris Peters in Bengaluru; Editing by Devika Syamnath

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