Fletcher King plc provided earnings guidance for the full financial year of 2021. The economic environment remains highly uncertain and it is unclear how significantly the longer term economic impact of Covid-19 will weigh on corporate and investor sentiment. The recent positive news on vaccine development offers hope that the commercial property market may start to improve in 2021, but the pace and extent at which this materialises is very difficult to predict. It is likely that the remainder of the financial year will continue to be affected by the Covid-19 pandemic with transaction-based fees materially lower than would otherwise be expected. The company therefore expect to report a loss for the full financial year.