Guest Posted July 28, 2016 Share Posted July 28, 2016 On BBC live business... Countrywide warns on profits Speaking of the property market, Countrywide - the UK’s biggest lettings and estate agents - has issued a profit warning after commercial and London residential transactions stalled in the wake of the Brexit vote. “This period of uncertainty will inevitably impact the level of transactional activity in the second half of the year and, although it is too early to quantify accurately, we will not meet last year’s result," said cheif executive Alison Platt. Pre-tax profit for the the six months to June was £21.7m, down from £28.9m in the same period last year. “In the run up to the [EU referendum vote] we saw a slowdown in our retail and London residential businesses and, since the EU referendum result this has become more marked in London, the South East and expensive prime markets,” Countrywide said. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted July 28, 2016 Share Posted July 28, 2016 On a personal note,may I be allowed to greet these these results with a large Muhahahahahahahahahahahaha.................................. Couldn't happen to a bigger bunch of parasites.I say that having had the misfortune to have rented through them. Awful......... Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted July 28, 2016 Share Posted July 28, 2016 Just to add an example of how p1ss poor Countrywide were. They sent us a letter saying they were doing us a favour by only raising the rent by £50 and the contract fee would be only £150......the way they worded it,it seemed like you had to re-sign. Obviously,after years on here I told Mrs P to ask the LL if he knew about it. The LL to be fair exploded because he had specifically told them he didn't want to raise the rent and was happy for us to go onto a periodic. My experiences with other,smaller LA's have been better. Mrs P dealt with it all. Apparently,all in the fees were £500 incl inventory/contract/referencing fees edit to add-deposit was 6 weeks rent as well. edit edit to add- we were in a rush beggars can't be choosers.Having said that,just had a look at the area and their market share locally has been hammered http://www.frankinnes.co.uk/rent/letting-agents/ They only have 15 properties for Let and of those 11 are stated as 'Let Agreed' On the website they state their fees are £425 plus VAT http://www.frankinnes.co.uk/content/_shared/assets/pdf/OnlineTenantsGuide.pdf admin fee-£50 per tenant referncing fee £75 per tenant check in fee-minimum £72 tenancy agreement-£300 other charges sharer-£300 extension agreements -£125 outgoing referencing fee-£24 Optional extras express move in within 3 days-£100 Express 5 days-£50 Saturday move in-£60 Pet licence-£75 So a joint application could be northwards of £625. We recently moved and the LL told us he'd never use them again.Aside from the stunts they pulled,he said their fees were limiting his tenant pool. Like I said,c**** and you can guess how I'm spelling it. And they charge that whether you're only applying for a one bed flat or a 4 bed detached................ Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted July 28, 2016 Share Posted July 28, 2016 Why has the share price risen by 12% today because of these shitty results? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted July 28, 2016 Share Posted July 28, 2016 Why has the share price risen by 12% today because of these shitty results?Results are so poor they are in for a tax-payer bailout? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 28, 2016 Share Posted July 28, 2016 On a personal note,may I be allowed to greet these these results with a large Muhahahahahahahahahahahaha.................................. Couldn't happen to a bigger bunch of parasites.I say that having had the misfortune to have rented through them. Awful......... Share price not taking it well...Just up the 10% (9.75%) Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 28, 2016 Share Posted July 28, 2016 Crazy. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 28, 2016 Share Posted July 28, 2016 Only up 8.6% now. This is extraordinary. It seems the one of the house builders announced profit. WTF are the tax payers funded these people ? Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted July 28, 2016 Share Posted July 28, 2016 Share price not taking it well...Just up the 10% (9.75%) Clearly the markets were expecting worse hence the bounce. Long term,Countrywide are Fubar.The simple reason is outlined in my post above.They need to levy fees on a level commensurate with the size and scale of their head office head count and CRE footprint.Local EA's around me provide a much better service on the whole for a lot less money.Some do a one bed flat application for less than £150. As I point out,their fees basically exclude them from the 1 bed flat market which is the bread and butter of renting. Me and Mrs P are hardly short of a bob or two but we both made a point of refusing to rent through them again-not just because of the cost but also the service ( a lot of young kids with no manners on trainee salaries who talk to you like you're dirt).The reason they have to employ cheap labour is because of the need for branch profits to subsidise head office costs. The Branch I rented off was set up through the £300,000(or so) buy out of a local EA.They've milked it as much as they could but after 2/3 years they've pretty much lost all that repeat business at the moment they have 4 houses for let.If they've recovered the cost of the buy out,I'd be stunned. As a comparison a branch of a local EA up the road has 35 or so properties to rent and charges £250 for two tenants all in. Like I said,long term,Countrywide are f***** and rightly so. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted July 28, 2016 Share Posted July 28, 2016 Only up 8.6% now. This is extraordinary. It seems the one of the house builders announced profit. WTF are the tax payers funded these people ? https://www.google.co.uk/finance?q=LON%3ACWD&ei=AQeaV8rDNcK5U8aIgvAP Down from £6.86 in March 2014.I can accept that as compensation for their treatment of me and the wonderful Mrs P. They'll be picking up the 1% interest on their save as you earn scheme. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted July 28, 2016 Share Posted July 28, 2016 13.59% Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted July 29, 2016 Share Posted July 29, 2016 http://www.google.co.uk/finance?q=LON:CWD Down 5% today back at 250......... Price peaked at 1000hrs yesterday at 286!!!!! Down 36 in 24 hrs.I can only imagine the rays of hope that shone on the board yesterday.Long enough for them to get their hopes up.................................that their share options might be worth something. And then back to reality this morning. Happy days. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted August 4, 2016 Share Posted August 4, 2016 https://www.google.co.uk/search?q=countrywide+pshare+price&ie=utf-8&oe=utf-8&client=firefox-b&gfe_rd=cr&ei=cnKjV6uzCcqN8Qfchry4Bg 231......................... I've missed four days of drops.gutted. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted August 4, 2016 Share Posted August 4, 2016 Countrywide did the survey I had done on my prospective purchase, they were incredibly quick, had contacted the seller's agent within a few hours of me notifying the mortgage company of having an offer accepted. I guess the work ain't exactly piling up at present... Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted August 4, 2016 Share Posted August 4, 2016 Countrywide did the survey I had done on my prospective purchase, they were incredibly quick, had contacted the seller's agent within a few hours of me notifying the mortgage company of having an offer accepted. I guess the work ain't exactly piling up at present... I heard them advertising on the radio earlier,telling the listeners how great they were. Obviously word of mouth aint working.Mofo's. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted September 28, 2016 Share Posted September 28, 2016 https://www.google.co.uk/finance?q=LON%3ACWD&ei=JMjrV-H3IYfAULrNncAC £2-19 1.57% bounce of an all time low. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted September 28, 2016 Share Posted September 28, 2016 Just checked my old branch and the situation has improved,they have 5 properties for rent up from four in July. They must be eyeing the price of hair gel keenly. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted October 26, 2016 Share Posted October 26, 2016 (edited) On 28/09/2016 at 2:41 PM, Sancho Panza said: https://www.google.co.uk/finance?q=LON%3ACWD&ei=JMjrV-H3IYfAULrNncAC £2-19 1.57% bounce of an all time low. £1.83 today.On course for a rights issue pre money shot sometime in the New Year-Feb/March? They may hit the wall sooner of course Edited October 26, 2016 by Sancho Panza Date Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted October 26, 2016 Share Posted October 26, 2016 (edited) http://baseballnewssource.com/markets/countrywide-plc-loncwd-receives-gbx-320-69-average-target-price-from-brokerages/126149.html 2/10/16 'Shares of Countrywide PLC (LON:CWD) have been given an average rating of “Hold” by the eight brokerages that are covering the firm. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is GBX 320.69 ($4.19)'. Muhahahahahaa! Edited October 26, 2016 by Sancho Panza to add article date Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 27, 2016 Share Posted October 27, 2016 Down to 181 now, 75% drop from peak...exactly where house prices need to get to Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted November 30, 2016 Share Posted November 30, 2016 On 04/08/2016 at 5:51 PM, Sancho Panza said: https://www.google.co.uk/search?q=countrywide+pshare+price&ie=utf-8&oe=utf-8&client=firefox-b&gfe_rd=cr&ei=cnKjV6uzCcqN8Qfchry4Bg 231......................... I've missed four days of drops.gutted. https://www.google.co.uk/finance?q=LON%3ACWD&ei=Akg_WOn0L8roUsn1sKAL £1.67 They were nearly £6 in June 2015. Death cross passed many moons ago.Happy days. Quote Link to comment Share on other sites More sharing options...
drunkincharge Posted November 30, 2016 Share Posted November 30, 2016 1 hour ago, Sancho Panza said: https://www.google.co.uk/finance?q=LON%3ACWD&ei=Akg_WOn0L8roUsn1sKAL £1.67 They were nearly £6 in June 2015. Death cross passed many moons ago.Happy days. So what's out of whack? The share price or the house prices? Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted December 16, 2016 Share Posted December 16, 2016 On 28/09/2016 at 2:41 PM, Sancho Panza said: https://www.google.co.uk/finance?q=LON%3ACWD&ei=JMjrV-H3IYfAULrNncAC £2-19 1.57% bounce of an all time low. Dow 19843 near a record high. Countrywide £1-74 near a record low,. Christmas has come early. Quote Link to comment Share on other sites More sharing options...
hi5lo5 Posted December 16, 2016 Share Posted December 16, 2016 Countrywide has dropped out of FTSE 250 index earlier this month. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted December 20, 2016 Share Posted December 20, 2016 On 16/12/2016 at 11:36 PM, hi5lo5 said: Countrywide has dropped out of FTSE 250 index earlier this month. good £1-70......the pain continues............. Quote Link to comment Share on other sites More sharing options...
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