Countrywide has reported a fall in pretax profit from £102.4m in 2014 to £85.8m for the year ended 31 December 2015. Total income increased by 4% during the period.
The estate agent has also appointed Peter Long as chairman, effective from April 2016. He will replace Greville Turner.
The company reported a 7% fall in earnings before interest, taxes, depreciation, and amortization from £121.m to £113m owing to a decline in lettings profits
Total income increased to £733.7m, from £702m last year.
Its final dividend is posted at 10p per share. The company has also agreed a new revolving credit facility of £340m for investments.
Countrywide increased its properties under management by 4% to 106,909, while property sales fell by 8% from 73,450 to 67,402.
Turner said: “2015 was a significantly tougher year both for the market and Countrywide. However, the value we derive from our broadly based diversification strategy is evident with 42% of group EBITDA being delivered from lettings and commercial. 2015 marks my final year as chairman and I am proud of my tenure at Countrywide.”
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