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McGrath won't achieve earnings estimate

McGrath Limited expects its full-year earnings will be lower than a key analyst's estimate, following a weaker-than-expected first four months of trading.

The real estate services firm says its financial underperformance is largely due to lower volumes of listings and agent numbers and a slowdown in the project marketing segment.

While McGrath has not provided an earnings guidance for the 2018 full-year, it forecast its earnings to be between 20 per cent and 25 per cent lower than Bell Potter's estimate of $16.6 million, due to high restructuring charges and cost savings.

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