Countrywide starts the new week with its shares at yet another record low.
They finished on Friday at 11.64p, a little over 7% down.
According to the London Stock Exchange, this puts the company’s market cap at £65.5m.
Market caps reflect the London-listed element of the shares only.
Completely separately, Rightmove’s shares were sub-divided by ten on Friday. The share price is now just below £5, compared with just under £50 below, a move designed to make the shares more marketable.
Prior to the sub-division, Rightmove has seen its share price go down despite achieving a 10% increase in revenue and a 12% rise in profits, according to its latest results.
Rightmove is expected to drop out of the FTSE 100 this week.
Comments (2)
Agreed…. It’s more “political” speak than sound “business” speak. Their mind set is so divorced from their customers problems they do not understand how radical they really need to be.
Well unlikely to start off with a bang as there is a large trade sitting there unfilled from Friday.In addition there is a large tranche of shares which were picked up by the placees from the offer not taken up by existing shareholders which more than likely they will be looking to exit from
Immediate disaster averted with the monies arriving in so now they can embark on implementing the “new ” strategy. However this sounds very much like the “old” one .
” The Group believes that the return to profitable growth must start with building back industry expertise in Sales and Lettings to deliver the growth in the register of properties available for sale; restoring the pipeline of agreed sales and improving ancillary income.”
You really have to scratch your head at that one .Having squandered hundreds of millions in just a few years buying in top property expertise already written off you would have thought the brands would be brimming with top players with expertise .Rinse and repeat