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Countrywide warns on earnings as Brexit uncertainty dents consumer confidence

By BFN News | 09:59 AM | Tuesday 30 April, 2019


Property services croup Countrywide downgraded its outlook on earnings after income fell in the first quarter as Brexit uncertainty continued to weigh 'heavily' on consumer confidence and hurt home-buying demand. 'We anticipate that first-half adjusted earnings (EBITDA) would now be around £5m lower year on year,' the company said. The Group had previously reported that first-half adjusted EBITDA would be down by some £3 - £5m. In the three months to 31 March, total group income fell to £140.3m from £144.6m seen in the same period in 2018. The company said it expected adjusted EBITDA to be broadly in line with the Board's expectations as the series of self-help measures were put in place to re-align the cost base to the lower level of market activity continued to be implemented, with the benefits expected to be realised during the second half. At 9:59am: (LON:CWD) Countrywide Plc share price was -0.17p at 6.87p Story provided by StockMarketWire.com

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