" Neumann has changed the fundamental ##s of the flexible office market , according to Servcorp ’s founder and CEO Alf Moufarrige . While WeWork ’s business model does not work , Neumann educated us about a market we did n’t know existed , Moufarrige said . Servcorp , which operates 155 offices across 24 countries , has increasingly been using co - working spaces rather than traditional office facilities for new locations . The company has struggled to break into the US market , and turnover of its client base means about 60 % of office space needs to be resold each year , but it seems to have turned a corner . "The way business is done changed but the fundamental rules stayed the same. Last month it reported net profit before tax of $ 18.4 m , beating its H2 guidance of $ 14 m to $ 18 m ; it believes it is now poised to benefit from stronger occupancy rates . Servcorp was recently approached by a potential buyer , but the company is not for sale , Moufarrige said .
" Neumann has changed the fundamental ##s of the flexible office market , according to Servcorp ’s founder and CEO Alf Moufarrige . While WeWork ’s business model does not work , Neumann educated us about a market we did n’t know existed , Moufarrige said . Servcorp , which operates 155 offices across 24 countries , has increasingly been using co - working spaces rather than traditional office facilities for new locations . The company has struggled to break into the US market , and turnover of its client base means about 60 % of office space needs to be resold each year , but it seems to have turned a corner . Last month it reported net profit before tax of $ 18.4 m , beating its H2 guidance of $ 14 m to $ 18 m ; it believes it is now poised to benefit from stronger occupancy rates . Servcorp was recently approached by a potential buyer , but the company is not for sale , Moufarrige said .