Countrywide plc reported unaudited consolidated earnings results for six months ended June 30, 2018. For the period, the company's revenues were £298,570,000 against £326,740,000 a year ago. Operating loss was £233,954,000 against profit of £6,236,000 a year ago. Loss before tax was £242,751,000 against profit of £192,000 a year ago. Loss for the period was £205,816,000 against £491,000 a year ago. Basic loss per share was 87.41 pence against earnings of 0.21 pence a year ago. Adjusted basic LPS 2.46 pence compared to profit of 2.95 pence a year ago. Net cash outflow from operating activities was £21,205,000 against inflow was £4,629,000. Purchase of property, plant and equipment was £1,852,000 against £3,917,000 a year ago. Purchase of intangible assets was £3,302,000 against £2,859,000 a year ago. Net debt at 30 June 2018 was £211.7 million. Adjusted EBITDA of £10.7 million against £27.8 million a year ago, slightly better than recent guidance. operating loss before exceptional items was £10,925,000 against profit of £8,942,000 a year ago. The underlying loss before tax was GBP 7.6 million, a 3% reduction in depreciation and amortization and also lower finance costs year-on-year, principally due to the placing last year and lower average borrowings during the year.

The Group expects to make continued operational progress in the second half of the year, which, combined with the traditionally stronger second half in its B2B and Financial Services operating segments, means the Group expects the full year to be in line with the Board's expectations.