Countrywide share price

Countrywide results lift stockmarket price

It may be Friday 13th but Countrywide’s Chief Executive, Alison Platt, is probably feeling a little happier as their share price rose this morning following the group’s reported its income for the 12 months to the end of December. Listed as £737 million, it beat their 2015 figure of £734 million and the analysts’ expectations of £702 million. The figure was achieved despite falling volumes in house sales, through their agency offices, particularly in London. Countrywide (CWD.L) said that the volume of sales in London in the final quarter continued to be below 2015’s levels, resulting in a drop of about 6 per cent in the number of deals for the year. However, its lettings business saved the day, supporting sales revenue with strong activity across the country. Countrywide had issued two profit warnings for 2016, saying that it expected full-year market volumes to be 6 per cent lower for the full year. The group said volumes were likely to fall further in 2017. Countrywide is ‘encouraged’ Commenting on the Group’s performance, Alison Platt, CEO said, “It is pleasing to report modest full year revenue growth against the backdrop of a challenging residential sales market. Our Retail and London divisions were impacted by the…

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