Countrywide - CWD .....the short ?!

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RandomWalker - Wed, 28 Dec 05 :

HamsterApe. Good work to run down the answer from the company & lets them know that people are watching their actions. Even if there is nothing suspicious in the way CWD goes about making its RNSs, they certainly seem to give the impression there is.
Meanwhile, I think we are in a repeat of the situation at the same time 1 year ago. The share price went up against all logic until the figures were published, then fell off a cliff. The profits for 2004 contained the period Jan to July 2004 when EVERY estate agent was creaming in the profits. OK, August-Dec was poor last year, but they already had loads in the bank. This year has been dire. Even CWD talk about the worst market for 30 years. There was a small pick up this autumn, but nothing like a boom. I cannot see them making a trading profit for 2005. The forecasts from house market pundits for 2006 are terrible for estate agents; everyone is going for hardly any change in house prices, so there is no incentive for anyone to move quickly.


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