June 13, 2019 / 11:08 PM / a month ago

Australia's McGrath sees FY earnings loss on tough market conditions

June 14 (Reuters) - Australia’s McGrath Ltd, the country’s biggest listed real estate agency, said it expects a full year core earnings loss of A$6 million to A$6.5 million ($4.2 million to $4.5 million) due to continual headwinds in the housing market.

“The market conditions for FY2019 have been challenging. While we have seen a general improvement in interest and enthusiasm in the market, we are yet to see this translate to an increase in listings,” Chief Executive Officer Geoff Lucas said in a statement. ($1 = 1.4463 Australian dollars) (Reporting by Shriya Ramakrishnan in Bengaluru; editing by Richard Pullin)

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