DIRECTOR DEALINGS: Countrywide Senior Executives Buy Shares

9th Mar 2018 17:13

LONDON (Alliance News) - Countrywide PLC said Friday that senior executives including chairman and finance head bought shares in the company following the release of annual results on Thursday.

The company's Executive Chairman Peter Long bought 200,000 shares at 79.80 pence per share. Following the purchase, Long's interests in the company's Ordinary Shares is 571,429 shares.

Himanshu Raja, the company's chief financial officer, purchased 100,000 shares at 88.05p. Raja now owns 322,841 shares.

Countrywide's Operations Director Paul Creffield purchased 100,000 shares at 83.43p. He now owns 454,742 shares in total.

The company yesterday swung to a pretax loss, suspended its dividend payout, and warned of further pain in the new year. In 2017, the estate agent sunk to a pretax loss of GBP212.1 million from a GBP19.5 million profit the year prior. Revenue also fell to GBP661.1 million from GBP724.0 million the year before.

Profit performance was chiefly hurt by GBP237.2 million in exceptional charges in 2017, compared to GBP33.2 million in 2016.

Shares in the company closed down 5.0% at 83.10p.

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