IWG, the owner of the Regus and Spaces flexible office brands, expects full-year profits to come in above market forecasts after another quarter of growth.
The company now expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of between $585 million and $625 million, and said it should beat the analyst consensus of $599 million.
System-wide revenue, which includes sales at centres run by franchise and management partners, rose 12% to $1.26 billion in the third quarter.
That puts IWG on an annualised run rate of more than $5 billion.
Group revenue rose 9% to $1.03 billion.
The network now has more than 5,000 centres worldwide.
Fee revenue from the managed and franchised business, where partners own or lease the buildings and IWG runs them, jumped 28% to $45 million.
Revenue from centres IWG operates itself grew 8%, with revenue per available room up 2%.
Christian Schmitz, chief executive, said the company could now trim its cost base without holding back growth.
IWG bought back $39 million of shares in the quarter, taking the total this year to $139 million, out of up to $200 million planned.
Net debt fell slightly to $874 million.
