Disappointing fourth quarter 2017 in sales and lettings business for Countrywide PLC

January 19, 2018

Countrywide plc, announced yesterday 18th January 2018 its trading update for the year ended 31 December 2017.

Countrywide announced that revenue for 2017 for the Total Group is expected to be around £672m, against £737m for 2016, fourth quarter income of £164m against £179m for 2016.

The announcement stated: Total income in the sales and lettings business for the full year is expected to be circa £360m, down 14% on 2016, reflecting a disappointing fourth quarter performance. Income in the UK business is expected to be circa £205m, down 17% year on year, and in London is expected to be circa £155m, down 10% year on year.  Lettings income is expected to be down 4% at circa £169m, driven by an 8% decline in the UK, with London lettings revenue flat year on year.

Read the Countrywide Plc announcement 18th January 2018 in full click here.

The Company will announce its preliminary results on 8 March 2018.

 

 

 

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.

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