Countrywide plc publishes trading update

Countrywide says it is poised to deliver record results in 2014 in line with expectations despite recent market slowdown.

The property group has announced an update ahead of its final results for the year to 31 December 2014, which will be released on 26 February 2015.

The update shows financial results in line with expectations despite recent property market conditions. 2014 also saw a record result from Countrywide's lettings business on revenue, profits and margins.

The development of the group's commercial operations progressed well in 2014 with Lambert Smith Hampton delivering ahead of its expectations.

Countrywide's total income was up 20% in 2014 from 2013, 11% more houses sold and 25% more rental properties came under the group's management than in 2013.

Alison Platt, chief executive at Countrywide, said: These results once again underline the resilience we derive from our broadly based business and our ability to deliver strong growth in a challenging market. We are well placed to both take advantage of the sustainable growth in our lettings and commercial business whilst being positioned to lead as the housing sales market recovers.