What will Countrywide announce next Thursday?

first_imgHome » News » Agencies & People » What will Countrywide announce next Thursday? previous nextAgencies & PeopleWhat will Countrywide announce next Thursday?Q3 trading statement should shed light on plans to turn business aroundNigel Lewis17th November 20160843 Views Countrywide has said this morning that it is going to make its third quarter management statement next Thursday, and there is now nervous debate among employees and shareholders about what Alison Platt and her executive team are going to reveal.The company has been through turbulent times over the past 18 months as its share price has dropped by two thirds from over £6 a share to £2 today. Several senior people have exited the business recently including, most notably, the managing director of its estate agency business Bob Scarff.Platt (pictured) has a difficult job ahead of her. The number of homes for sale in the UK have been dropping and many of Countrywide’s competitors have been suffering this year including Foxtons, which said it had seen sales in London reduce by a third in recent months.There are two rumoured directions in which Platt is planning to travel. The first is to reduce costs, which will reassure investors who traditionally bay for cuts in difficult times. Several major Countrywide brands have indicated they expect to drastically reduce their print advertising spend next year.But Platt is also said to be considering how to streamline the business which now numbers some 55 high street brands. This includes one rumoured plan to reduce the number of agency brands down to ten, a process which appears to have already started. London agency Faron Sutaria was merged into John D Wood last month and a Sutaria branch in Chiswick shut down.Also, the hiring of staff and marketing spend is now being controlled centrally much to the frustration of many who have been used to making their own decisions on how best to find the best local talent and source landlord and vendor instructions.Bob Scarff (pictured) says that a lot of “disillusioned” regional managers are now leaving Countrywide. This, he says, is worrying – when he was there such middle-ranking management players were the real “oomph of the business.”Scarff also says that last week’s kerfuffle when he was prevented from attending an investor Q&A was“hardly a rational act – someone is under a lot of pressure”.   Alison Platt Bob Scarff Countrywide November 17, 2016Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img

first_imgHome » News » Agencies & People » What will Countrywide announce next Thursday? previous nextAgencies & PeopleWhat will Countrywide announce next Thursday?Q3 trading statement should shed light on plans to turn business aroundNigel Lewis17th November 20160843 Views Countrywide has said this morning that it is going to make its third quarter management statement next Thursday, and there is now nervous debate among employees and shareholders about what Alison Platt and her executive team are going to reveal.The company has been through turbulent times over the past 18 months as its share price has dropped by two thirds from over £6 a share to £2 today. Several senior people have exited the business recently including, most notably, the managing director of its estate agency business Bob Scarff.Platt (pictured) has a difficult job ahead of her. The number of homes for sale in the UK have been dropping and many of Countrywide’s competitors have been suffering this year including Foxtons, which said it had seen sales in London reduce by a third in recent months.There are two rumoured directions in which Platt is planning to travel. The first is to reduce costs, which will reassure investors who traditionally bay for cuts in difficult times. Several major Countrywide brands have indicated they expect to drastically reduce their print advertising spend next year.But Platt is also said to be considering how to streamline the business which now numbers some 55 high street brands. This includes one rumoured plan to reduce the number of agency brands down to ten, a process which appears to have already started. London agency Faron Sutaria was merged into John D Wood last month and a Sutaria branch in Chiswick shut down.Also, the hiring of staff and marketing spend is now being controlled centrally much to the frustration of many who have been used to making their own decisions on how best to find the best local talent and source landlord and vendor instructions.Bob Scarff (pictured) says that a lot of “disillusioned” regional managers are now leaving Countrywide. This, he says, is worrying – when he was there such middle-ranking management players were the real “oomph of the business.”Scarff also says that last week’s kerfuffle when he was prevented from attending an investor Q&A was“hardly a rational act – someone is under a lot of pressure”.   Alison Platt Bob Scarff Countrywide November 17, 2016Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img

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