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Countrywide PLC (CWD.L)

CWD.L on London Stock Exchange

51.00GBp
17 Jul 2018
Change (% chg)

0.70 (+1.39%)
Prev Close
50.30
Open
50.30
Day's High
51.50
Day's Low
50.00
Volume
335,155
Avg. Vol
689,746
52-wk High
174.50
52-wk Low
36.25

Latest Key Developments (Source: Significant Developments)

Countrywide Issues Update On Capital Structure, Profit Forecast
Monday, 25 Jun 2018 

June 25 (Reuters) - Countrywide PLC ::CAPITAL STRUCTURE, RECOVERY PLAN & TRADING UPDATE.MARKET IN FIRST HALF HAS CONTINUED TO BE SUBDUED AND WE HAVE EXPERIENCED LONGER TRANSACTION CYCLES.NOW LOOKING TO PUT IN PLACE A LONG TERM CAPITAL STRUCTURE TO REDUCE ITS INDEBTEDNESS AND TO SUPPORT ITS TURNAROUND PLAN AND GROWTH.ADJUSTED EBITDA IS NOW EXPECTED TO BE AROUND £20 MILLION LOWER IN FIRST HALF COMPARED WITH SAME PERIOD LAST YEAR.DO NOT EXPECT ADJUSTED EBITDA SHORTFALL TO BE RECOVERED IN SECOND HALF.FOCUS REMAINS ON BUILDING BACK SALES PIPELINE AND WE EXPECT TO SUBSTANTIALLY CLOSE PIPELINE GAP BY END OF YEAR.INTENTION TO REDUCE LEVELS OF DEBT BY AT LEAST 50% THROUGH ADDITIONAL EQUITY FINANCE.MAJOR SHAREHOLDER, OAKTREE, AND COMPANY'S LENDER GROUP ARE SUPPORTIVE OF THIS CAPITAL STRUCTURE APPROACH.CROSS- REFERRAL INCOME WITHIN GROUP INCREASED BY 8%, WITH EVERY £1 OF INCOME EARNED BY ESTATE AGENCY IN FIRST FIVE MONTHS TO MAY 2018.B2B AND FINANCIAL SERVICES BUSINESSES PERFORMED IN LINE WITH BOARD'S EXPECTATIONS.REGISTER OF PROPERTIES AVAILABLE FOR SALE IS NOW BROADLY BACK TO 2017 LEVELS HAVING INCREASED BY 9% SINCE 31 DECEMBER 2017.  Full Article

Countrywide Says FY Income To Fall To About 672 Mln Stg
Thursday, 18 Jan 2018 

Jan 18 (Reuters) - Countrywide Plc ::‍TOTAL GROUP INCOME FOR FULL YEAR IS EXPECTED TO BE CIRCA £672M (2016: £737M), WITH Q4 INCOME OF CIRCA £164M​.‍EBITDA FOR 2017 IS EXPECTED TO BE AROUND £65M​.‍TOTAL INCOME IN SALES AND LETTINGS BUSINESS FOR FULL YEAR IS EXPECTED TO BE CIRCA £360M, DOWN 14% ON 2016​.  Full Article

Countrywide reports Q3 revenue of 175.1 million stg
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Countrywide Plc ::Q3 REVENUE 175.1 MILLION STG.‍TOTAL GROUP REVENUE FOR Q3 WAS £175.1M, AN INCREASE OF 2% COMPARED WITH Q2 AND DOWN 7% YEAR ON YEAR.​.‍THIS REPRESENTS A RESILIENT PERFORMANCE IN LONDON SALES AND LETTINGS AND IN FINANCIAL SERVICES, AND A SOLID PERFORMANCE IN B2B, OFFSETTING EFFECT OF SLOWER HOUSING TRANSACTIONS ACROSS UK.​.‍WITHIN ESTATE AGENCY, Q3 REVENUE WAS £47.8M (2016: £57.0M)​.‍TRANSACTION LEVELS WERE UP IN Q3 COMPARED WITH Q1 AND Q2, WITH Q3 REVENUE UP 2% ON Q2.​.‍REVENUE WAS UP 1.5% IN LONDON COMPARED WITH Q2 AND REVENUES ACROSS UK ESTATE AGENCY BUSINESS INCREASED 2% ON Q2.​.‍OUR FOCUS ON COST REDUCTION REMAINS EQUALLY UNABATED AND WE ARE MOBILISING NEXT PHASE OF OUR COST TRANSFORMATION PROGRAMME.​.‍AS IN PREVIOUS YEARS, FINAL QUARTER REMAINS IMPORTANT AND WE CURRENTLY EXPECT OUR RESULTS FOR FULL YEAR TO BE TOWARDS LOWER END OF RANGE OF MARKET EXPECTATIONS."​.  Full Article

Countrywide sells all of its stake in Zoopla Property for 29.2 mln stg
Thursday, 22 Sep 2016 

Countrywide Plc : Announces that it has sold in aggregate 9.2 mln ordinary shares in Zoopla Property Group Plc . Sale at an average price of 3.17 stg between period from 9 August 2016 to 21 September 2016 . Following disposal, Countrywide no longer has a holding in Zoopla's ordinary share capital. . Gross proceeds of share sales amount to 29.2 million stg. .Proceeds of disposal will be used to reduce corporate indebtedness and for other general corporate purposes..  Full Article

Countrywide shares open down after FY warning
Thursday, 28 Jul 2016 

Countrywide Plc shares open down about 3 percent after co warns will not meet FY EBITDA level of 2015 as Brexit had hit property transaction levels For full story, click on:.  Full Article

UPDATE 3-Countrywide warns again on profit, plans big share sale

* Shares have lost half their value this year (Adds details, background)