Mixed performance for Countrywide.

Yesterday saw the release of Countrywide PLC preliminary statement of annual results for the year ended 31 December 2015.

They reported a mixed performance in line with expectations with momentum building in 2016. Some of the highlights are below. To see the statement in full click here.

Market beating performance from financial services and surveying

Encouraging progress in commercial

Consolidation in lettings with investment in acquisitions and core platform

Challenging sales market as pace of change created some disruption in estate agency

Resilient performance in London

Grenville Turner, Chairman at Countrywide plc, commented: “2015 was a significantly tougher year both for the market and Countrywide. However the value we derive from our broadly based diversification strategy is evident with 42% of Group EBITDA being delivered from Lettings and Commercial.  2015 marks my final year as Chairman and I am proud of my tenure at Countrywide. I would like to take this opportunity to wish Peter Long, Countrywide’s new chairman with effect from 27 April 2016 and the Board the very best as it delivers its customer centric strategy.”

Alison Platt, Chief Executive, added: “2015 was a challenging year but we also made strong progress in creating solid foundations for the business to grow as planned in the coming few years. A tougher sales market coupled with our significant change agenda challenged us in maintaining our share of sales outside of London. However, the importance of the breadth of our portfolio through such a diversified business as ours was underlined by the market beating performance delivered in financial services, commercial and surveying. I am confident that the pace that we delivered our change agenda ensures we enter 2016 in a stronger position to regain market share and build the business further.”

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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