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BRIEF-Countrywide reports Q3 revenue of 175.1 million stg
November 9, 2017 / 7:45 AM / a month ago

BRIEF-Countrywide reports Q3 revenue of 175.1 million stg

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.”​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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