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UK's Workspace posts first annual loss in 12 years on pandemic hit

June 3 (Reuters) - Office-space provider Workspace Group Plc slipped into its first annual loss in 12 years on Thursday, as a shift to remote working and rising preference for hybrid working model due to the pandemic battered the valuation of its properties and rental income.

The London-based company reported a pre-tax loss of 235.7 million pounds ($333.54 million) for the full year ended March 31, compared to a profit of 72.5 million pounds a year earlier.

$1 = 0.7067 pounds Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich

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