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Countrywide gets phased reopening underway; reports better-than-expected earnings

By BFN News | 10:09 AM | Thursday 21 May, 2020

Property company Countrywide said it had begun a phased re-opening of operations and reported higher-than-expected earnings in for the year. Following the government's announcement on 12 May 2020 of the re-opening of the housing market in England, the company said it had begun phased re-opening of its businesses. In the year ended 30 April, adjusted underlying earnings (EBITDA) grew 16% year-on-year and ahead of the board's expectations, while total income slipped 3% to £498m following he £12m hit from the tenant fee ban. 'For the four months to 30 April 2020, the group benefited from positive trading in the first quarter, and the strong pipeline build before lockdown. Adjusted earnings EBITDA to 30 April 2020 was significantly ahead of prior year for continuing operations,' the company said. At 10:09am: (LON:CWD) Countrywide Plc share price was +2.5p at 64.5p Story provided by

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