Countrywide’s share prices hit a new low on Friday, sliding to 137.5p, according to the London Stock Exchange.
The price compares with 350p per share when the company relaunched on the stock market in 2013.
Friday’s share price put a market capitalisation on the firm of £328.35m.
By contrast, Purplebricks’ shares rose 4.1% on Friday to 432p, compared with its £1 launch price in December 2015, and giving it a market value now of £1.2bn.
Comments (6)
Its a terrible company to work for and its hemorrhaging staff. They leave poor senior managers in place who destroy morale, in many cases those senior managers are only senior because they inherited the position, and because nobody from above knows how awful they are because nobody from above cares.
I just dont see where they go from here? There are very few organisations who would be interested in buying various sections, certainly not at the price Countrywide paid for them, so its a downward spiral as far as I can see.
Its a shame for some excellent staff still persevering, however I hope they go out of business. Awful organisation.
Agree, I don’t see the point in good people remaining in the business. Having worked there myself, and tried my best to push back against management and some of their job creating, morale sapping tactics… eventually found myself defeated and just had to go.
Perfect time for PB to launch a bid for the “profitable” Countrywide Group and pick up (on the cheap) the “Bricks & Mortar” infrastructure that they need, then modify their offerings to the “either/or” model before eventually settling down as “PURPLEWIDE”, a traditional “No Sale-No Fee” operator”
Why didn’t I think of this?
Too clever!
Death by a thousand cuts.Their failure to sell LSH earlier in the year despite raising £37m in a placing in March at 175p per share won’t have appeased their lenders Probably almost too late to save the day by making some wholesale management changes at the top.
Maybe they can entice Andy “Westcott”Martin who is 61 and has successfully sold Strutts as a swansong to turn it all around
This looks now as if it will be broken up .The surveying and financial services would fetch a premium value and a free for all on the estate agency buiness with some MBO’s . Maybe our friends in N Ireland BTW Shiells who have made a business of selling their practice to CWD and its original owners for fancy prices and a few years after buying it back for a bag of gobstoppers will do it over again .It beats selling property!
Incredible.
As an employee, if you have 3 bad months you are “Performance Managed” and inevitably end up leaving.
As a CEO you can have 3 bad years and lose millions of pounds off the share price and still remain in your job!