LONDON May 6 Countrywide PLC, Britain's
largest estate agency, expects to deliver full-year profits
towards the top end of its expectations, as the country's
housing recovery drives sales and letting transactions.
Countrywide, whose brands include Bairstow Eves and Hamptons
International, said on Tuesday it had made a strong start to
2014, with total income for the three months to March 31 up 35
percent at 157.1 million pounds ($264.99 million).
The results, a strong pipeline for the next quarter and the
overall rosy outlook for the housing market "puts the group in
an excellent position to deliver a financial performance for the
year towards the top end of our expectations," it said.
Analysts on average expect Countrywide to post full-year
pretax profits of 104.9 million pounds on revenues of 712.7
million pounds, Thomson Reuters data showed.
Shares in Countrywide have risen by almost 70 percent since
it returned to the market in March last year after a six year
absence, valuing the company at 1.3 billion pounds.
($1 = 0.5929 British Pounds)
(Reporting by Brenda Goh; editing by James Davey)