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

(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.