Countrywide is to reveal its much-anticipated final results for 2018 on Thursday 7th March, it has been announced.
Senior directors including Group CFO Himanshu Raja and Group Chairman Peter Long are due to attend a live video conference at investment bank Jefferies in the City to present the troubled company’s results for the 12 months to December 31st 2018.
Much is riding on the senior leadership team proving to investors that their ‘back to basics’ strategy is delivering the results that investors are hoping for, including reversing recent reductions in sales volumes, and increasing income from lettings.
Spearheaded by Group Managing Director Paul Creffield (left), the company has been hiring dozens of senior staff, branch managers and sales people with more traditional property industry backgrounds.
It has also been attempting to lure back talent chased out during the ‘retail’ era ushered in by former CEO Alison Platt, although not always successfully. In September last year a senior lettings director, Tim Van der Schyff, jumped ship to Nick Dunning Associates.
Earlier this month the company released a brief interim statement for 2018 revealing that it had delivered a ‘resilient’ performance, although overall revenue was reported to be down by 10% and half that of 2017.
The public presentation and Q&A session with investors on 7th March will put some much needed flesh on the bones of its performance, reveal a more detailed picture of its 2018 performance and affirm what Long and the other directors intend to do this year. Its 10,000 employees will be watching with interest.