Home Real Estate Countrywide warns on results as Brexit hits property market

Countrywide warns on results as Brexit hits property market

by Paul

UK’s biggest lettings and estate agency company, Countrywide Plc, has warned on full-year core earnings on Thursday, saying that commercial and London residential transactions had stalled after Britain voted to leave the European Union.

It said it would not be able to match the adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) level seen in 2015.

Countrywide reported adjusted EBITDA of 113 million pounds ($149 million) last year. ($1 = 0.7585 pounds)

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