Countrywide Plc Q3 revenue falls 7% year on year.

November 10, 2017

Countrywide plc the UK’s largest integrated property services group, issued its trading update yesterday 9th November 2017 for the quarter ended 30 September 2017.

Total Group revenue for Q3 was £175.1m, an increase of 2% compared with Q2 and down 7% year on year, within estate agency, Q3 revenue was £47.8m (2016: £57.0m).

Third quarter lettings revenue was £47.3m (2016: £49.0m), with London flat year on year and a small decline in the rest of the UK. 

Alison Platt, Group CEO said:

“We have a clear strategy founded on being the provider of choice for property services in the UK and to give customers the ability to use Countrywide across multiple channels.  During the quarter, we continued to extend multi-channel offerings to our customers, which shows through in the resilience of the overall revenue performance.  Our focus on cost reduction remains equally unabated and we are mobilising the next phase of our cost transformation programme. 

The market for housing transactions remains challenging and is likely to be down overall compared with 2016. As in previous years, the final quarter remains important and we currently expect our results for the full year to be towards the lower end of the range of market expectations.“   

Read the Countrywide plc 3rd qtr trading update announcement 9th November 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

A Guide To Moving To The UK

Are you considering moving to the UK, perhaps you are relocating for work or returning after some time as an expat elsewhere. Whatever the reason, to help you begin your journey smoothly, we have compiled all the relevant information on how to relocate to the UK. This guide to moving to the UK will cover…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove rental tracker: 50,000 rental properties needed to bring supply back to pre-pandemic levels

Average advertised rents outside of London rise to a new record of £1,291 per calendar month (pcm), though the pace of rent growth continues to slow, with average rents now 8.5% higher than last year London rents reach a new record by two pounds, rising to £2,633 per calendar month. Average advertised rents in the…
Read More →
Letting Agent Talk

Half of Renters Don’t Know Where to Turn When Something Goes Wrong

Results come as TDS Charitable Foundation develops new service to support tenants to uphold their rights. HALF of all private renters would not know where to turn to if a landlord or letting agent failed to address a problem in a property. That’s according to interim results from a new representative survey of over 2,000…
Read More →
Estate Agent Talk

Liverpool’s Real Estate Market: What You Need to Know

Liverpool’s real estate sector presents a dynamic environment for investors, homebuyers, and tenants alike. As the city continues to expand and develop, understanding the nuances of this market is crucial for anyone looking to engage with property in the area. This article provides a comprehensive look at the current trends, investment opportunities, and potential challenges…
Read More →
Estate Agent Talk

Identifying Common Structural Issues in Balconies

Living in a city like Sydney, where a breathtaking view of the cityscape and ocean can be the crowning jewel of your property, it’s no surprise that balconies are key features sought after by homeowners. However, over time, these aesthetically pleasing elements can become a structural nightmare due to a range of issues that compromise…
Read More →
Estate Agent Talk

Stay Safe With Aluminum Ladders: 5 Facts About Lightning Attraction

Whether redecorating, putting items away in storage, or cleaning windows, there are many reasons why you may need ladders. They’re likely an item you have tucked away in your garage or, if a contractor, a tool you carry to and from work. Although highly beneficial, it’s essential to use this device correctly. Why? Aluminum is…
Read More →