Shares in Countrywide dropped just over 3% yesterday after it announced selling the last of its shares in Zoopla.
The deal raised £29.2m with money to be used to pay down debt and “for other general corporate purposes”.
Countrywide shares ended yesterday at 219p after starting at 227p.
The fall means that Countrywide shares are now down some 56% over the last year.
The firm, which is closing some 60 offices, has forecast a 1% fall in average house prices next year.
Shares in Zoopla yesterday were untroubled. They drifted down just 0.27%, starting at 335p and finishing the day at 333p, continuing their strong run. The shares have had a yearly high of 343p and a low of 190p.
“for other general corporate purposes” = paying the executive salaries and bonuses.
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