25 Apr 2018 07:00
25 April 2018
Countrywide plc
Q1 2018 Trading Update
Ahead of its AGM at 10am today, Countrywide plc, ("Countrywide", the "Company" or the "Group") (LSE: CWD), the UK's largest integrated property services group, issues its trading update for the quarter ended 31 March 2018.
Total Group income for the quarter was lower at £145 million compared to £162 million for the same period in 2017. As previously announced, this reflects the significantly lower entry pipeline in UK and London Sales coming into 2018.
The Group has moved swiftly to restore expertise in Sales and Lettings following the appointment of Paul Creffield as Group Operations Director in January 2018. Experienced sector professionals now fill all roles at area and regional director level.
We are encouraged by the early progress that is being made in Sales and Lettings. In Sales, we have seen an improvement in both the register of properties available for sale and in our market share of listings compared with Q4 2017. In Lettings, our share of listings is also ahead of Q4 2017.
The next trading update will be at our interim results on 26 July 2018.
Enquiries:
Media | Analysts and investors |
Natalie Gunson press.office@countrywide.co.uk Tel: +44 (0)7721 439043 | Himanshu Raja, Group Chief Financial Officer investor@countrywide.co.uk |
Michael Sandler/Dan de Belder Hudson Sandler Tel: +44 (0)207 7964133 |
About Countrywide plc
Countrywide is the UK's largest integrated property services group, including the largest estate agency and lettings network. Countrywide's network of expertise combining national scale and local reach helps more people move than any other business in the UK and is structured around four key business units: UK Sales and Lettings; London Sales and Lettings; B2B; and Financial Services.
Forward Looking Statements
This announcement has been prepared solely to provide additional information to the shareholders of Countrywide plc in order to meet the requirements of the FCA's Disclosure and Transparency Rules. It should not be relied on by any other party, or for other purposes. Forward-looking statements have been made by the directors in good faith, using information available up until the date on which they approved this statement. Forward-looking statements should be regarded with caution, because of the inherent uncertainties in economic trends and business risks.