March 8, 2018 / 7:19 AM / 2 months ago

BRIEF-Countrywide Says FY Adjusted EBITDA Down 23 Pct To 64.7 Mln Pounds

March 8 (Reuters) - Countrywide Plc:

* FY TOTAL INCOME ‍671.9​ MILLION STG VERSUS 737 MILLION STG AS REPORTED A YEAR AGO

* FY ADJUSTED EBITDA ‍64.7​ MILLION STG VERSUS 83.5 MILLION STG AS REPORTED A YEAR AGO

* PETER LONG APPOINTED EXECUTIVE CHAIRMAN

* ‍BOARD IS NOT RECOMMENDING A DIVIDEND FOR 2017 (2016: 5 PENCE PER SHARE)​

* PROMOTED PAUL CREFFIELD, TO GROUP OPERATIONS DIRECTOR

* SEES FIRST HALF OF YEAR WILL RESULT IN A REDUCTION IN ADJUSTED EBITDA OF AROUND £10 MILLION

* UNLIKELY THAT SHORTFALL IN FIRST HALF WILL BE RECOVERED

* FY LONDON SALES AND LETTINGS SUMMARY - TOTAL INCOME DOWN 10%; ADJUSTED EBITDA, £11.5 MILLION, DOWN 44%

* FY LONDON SALES 8,778 HOMES EXCHANGED DOWN 20%

* HOUSING TRANSACTIONS IN LONDON DECLINED BY 22% DURING 2017 AND SIMILARLY PROPERTIES AVAILABLE FOR RENT FELL BY 20% Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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