Countrywide plc (lon:cwd)
Countrywide – So Much Money Spent And So Little Value!

Countrywide plc Financials

ItemCurrent PeriodPrevious Period
YearN/A N/A
Period
Revenue
Earnings
Adjusted Earnings
EBITDA
Adjusted EBITDA
Statutory Profit
Adjusted Profit
Total Debt
Net Debt

Commentary History
No ticker supplied in the url so commentary history can not be collected.
Countrywide plc Share Price
Grade:The Black Grade - Shares That I Think Could Collapse To Nothing Or Suffer A Massive Share Issue.
Title: Countrywide – So Much Money Spent And So Little Value!
Company: CWD - Countrywide plc
Share Price Then: 7.2p
Author: Ian Smith
Date: Thu 18 Apr 2019
Comments: Countrywide Estate Agents recently, August 2018, raised around £130 million in a share issue yet today its market capitalization is at £117 million. Post the share issue the prices settled at around 12p for a while and today was at 7.21p

The February trading update had 2018 everything a bit down 5%-10% across various business sectors Sales and Lettings Income for the full year was £329 million, B2B Income in was £213 million and Financial Services income was £84 million.

Down on last year is never good but these numbers are not a total meltdown.

The preliminary results in March showed a loss of £218 million but this included £245 million of principally non-cash exceptional charges for goodwill, intangible and other asset impairments.

I have looked at internet competitors and although listing on internet sites is probably mandatory from now on comments seem to be that once a decision to buy or sell has been made the quality of the people involved matters greatly.

This shouldn’t be surprising as most people buy/sell very few houses in their lifetime and a business model based on a hard sell to get a listing fee regardless of whether or not the property sells is probably not going to offer this.

So although I think that the share price is low the company has stated a medium term no dividend policy which may be having an impact on the share price and I can’t see a short term motivator for a share price rise.
Read Count: 215/7053

Buy/No Buy In A Nutshell
NegativesToo much debt and they have already done a share issue to fix that, did a 50 for 1 share consolidation to bring the shares out the penny arena
PositivesMaybe Purple Bricks or another on line only business might see the business as a quick way to establish an office presence in many towns under another name.
Initial Review Price109p
Last Review Price109p
Last Review Date15-Jul-2020
Navigation & Details
Pages


Share Commentaries, their purpose.