April 25, 2018 / 7:08 AM / a year ago

Countrywide first quarter income falls on weak London sales

(Reuters) - Countrywide Plc (CWD.L), Britain’s largest estate agent on Wednesday said total income in the first quarter fell 10.5 percent, hurt by “significantly” lower sales in London.

Total income for the quarter fell to 145 million pounds from 162 million pounds in the year-ago period.

The company, which is restructuring to return its sales and lettings business to profitable growth after what it called a “disappointing year”, said it was “encouraged” by the early progress that is being made in the business.

Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Vyas Mohan

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