Countrywide warns on earnings as Brexit uncertainty dents consumer confidence

Writer, Stock Market Wire
Tuesday, April 30, 2019 - 09:59

Property services croup Countrywide downgraded its outlook on earnings after income fell in the first quarter as Brexit uncertainty continued to weigh 'heavily' on consumer confidence and hurt home-buying demand.

'We anticipate that first-half adjusted earnings (EBITDA) would now be around £5m lower year on year,' the company said. The Group had previously reported that first-half adjusted EBITDA would be down by some £3 - £5m.

In the three months to 31 March, total group income fell to £140.3m from £144.6m seen in the same period in 2018.

The company said it expected adjusted EBITDA to be broadly in line with the Board's expectations as the series of self-help measures were put in place to re-align the cost base to the lower level of market activity continued to be implemented, with the benefits expected to be realised during the second half.

At 9:59am: (LON:CWD) Countrywide Plc share price was -0.17p at 6.87p


Related content

Broker Forecast - Berenberg issues a broker note on Countrywide Plc

Berenberg today upgrades its investment rating on Countrywide Plc (LON:CWD) to buy (from hold) and cut its price target to 10p (from 95p).

Broker Forecasts...

Fri, 05/04/2019 - 09:20


Greggs and Countrywide

“The FTSE 100 dipped 0.4% to 7,165 on Thursday as several big names traded without the right to their dividends including Rio Tinto, ...

Thu, 07/03/2019 - 10:46


Countrywide losses widen as housing demand in London, the South slows amid s Brexit uncertainty

Countrywide reported Thursday wider annual losses amid market weakness in the fourth quarter as Brexit uncertainty hurt home buying demand in London and the South....

Thu, 07/03/2019 - 09:13


Broker Forecast - Peel Hunt issues a broker note on Countrywide Plc

Peel Hunt today downgrades its investment rating on Countrywide Plc (LON:CWD) to sell (from hold).

Broker Forecasts data provided by www.sharesmagazine.co.uk...

Thu, 07/03/2019 - 08:30


Countrywide reports flat annual income amid 'challenging' housing market

Countrywide reported Wednesday total income was flat for the full year compared with a year earlier as the estate agent grappled with a 'challenging' housing...

Wed, 13/02/2019 - 08:44