Countrywide profits halved in 2018 as debt burden takes toll

Profits at Countrywide, the embattled UK estate agent, halved in 2018, a year marked by an emergency fundraising and several profit warnings.

Full-year adjusted earnings before interest, tax, depreciation and amortisation fell 49.2% to £33m, the owner of Hamptons International, Bairstow Eves and Chappell & Matthews said on Wednesday.

Group income was £627m, down from £672m in 2017, Countrywide said in a trading statement ahead of full-year results to be released next month.

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