Countrywide Reports Record Profits
Countrywide reports record second-half profits
11th March 2004
The UK's largest estate agent, Countrywide, has posted record profits of £28.8 million in the second half of 2003, 15% up on the previous year.
The estate agent group, which includes the high street chains Bairstow Eves and John D.Wood, has 875 offices around the UK.
Overall profits for the year were hit by the poor performance of its life assurance operations, which have had to set aside funds for endowment mortgage compensation. Countrywide's life assurance business is closed to new customers and is due to be spun off into a separate company later this year.
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