January 18, 2018 / 7:43 AM / in 5 months

UK's Countrywide sees 8.8 pct drop in annual income

Jan 18 (Reuters) - Estate agency Countrywide Plc said it expected an 8.8 percent decline in full-year group income after a “disappointing” fourth quarter.

Income in the UK business is expected to fall 17 percent to about 205 million pounds ($283.0 million) for the year ended Dec. 31, with profit from London expected to drop 10 percent, the company said.

It added that total income in the sales and lettings business is expected to decline 14 percent for the full year, reflecting a weak fourth quarter.

Countrywide now expects total group income for the full year to fall to 672 million pounds from 737 million pounds a year earlier. ($1 = 0.7243 pounds) (Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Amrutha Gayathri)

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