June 25, 2018 / 6:33 AM / 6 months ago

Countrywide lowers profit forecast, plans more equity financing

June 25 (Reuters) - Britain’s largest real estate agent Countrywide Plc on Monday cut its half-year adjusted core earnings forecast and said it plans to lower debt by at least 50 percent through additional equity financing.

The company said it now expects adjusted core earnings to fall by about 20 million pounds ($26.5 million) in the first half from the same period last year, adding that it does not expect the shortfall to be recovered in the second half.

$1 = 0.7549 pounds Reporting by Arathy S Nair in Bengaluru; Editing by Amrutha Gayathri

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