June 5, 2020 / 6:29 AM / a month ago

Britain's Workspace reports fall in annual profit, sees subdued market ahead

June 5 (Reuters) - Office-space provider Workspace Group Plc said on Friday its full-year profit nearly halved and it expected more trouble in the months ahead due to a drop in new business since March-end.

The FTSE-250 listed company, which rivals U.S.-based WeWork, however, said that it expected a structural shift in office market towards flexibility going forward, after it reported a 47% fall in pretax profit to 72.5 million pounds ($91.73 million) for the full year ended March 31.

($1 = 0.7903 pounds)

Reporting by Samantha Machado in Bengaluru; Editing by Rashmi Aich

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