Estate agent group Countrywide shares dive as profits fall

Estate agent group Countrywide shares dive as profits fall
 

Shares in Countrywide, Britain's largest estate agent group, have sunk more than 20% after it warned of tough times in the housing market.
Countrywide, whose brands include Bairstow Eves and Gascoigne Pees, posted a sharp fall in profits and said about 150 head office jobs would go.
It reported a £208.1m after-tax loss in 2017, versus a £17.5m profit in 2016.
Executive chairman Peter Long admitted that the patience of investors had been "sorely tested".
The profit figures were dragged lower by one-off costs as Countrywide continued to restructure the business.
But even with these... read more

 
8 March 2018 in Business, Views: 35
Source: BBC
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