London Landlord Workspace Warns of Vacancies Hitting Profit

Workspace Group Plc, a landlord that rents space on flexible terms to mostly small- and medium-sized London businesses, has warned that rising vacancies in its portfolio will dent profits.

The company now expects a “trading profit headwind” of about £7 million ($9.3 million) in the next financial year that will impact its current company compiled estimate of £66 million to £72 million, according to a statement Friday. It still expects to deliver full-year profits in line with estimates for the year through March 2025.