M Winkworth (WINK)

Sector:

Real Estate

Index:

FTSE AIM All-Share

 114.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 125.00
  • 52 Week Low: 105.00
  • Currency: UK Pounds
  • Shares Issued: 12.73m
  • Volume: 0
  • Market Cap: £14.52m
  • Beta: 0.00

Winkworth profit and revenue rise, on track for full year

By Michele Maatouk

Date: Wednesday 12 Sep 2018

LONDON (ShareCast) - (Sharecast News) - AIM-listed estate agency M Winkworth reported a rise in interim profit and revenue on Wednesday as it opened four new offices and said full-year results should be in line with management's expectations.
In the six months to 30 June, pre-tax profit increased 10.4% to £596,000 on revenue of £2.8m, up 10.2%. The company said its performance was "solid" despite ongoing Brexit uncertainty, driven by central service initiatives and the continued solid performance of the lettings and management business.

New franchising applicants increased by 135% from the first half of last year to 134, with momentum expected to feed through to the remainder of the year and beyond and four new franchises planned for 2018.

Transactions in the first half were above market average but 6% lower than the first half of 2017 as a lacklustre sales start in the second half of last year following the snap election fed into a slow start to 2018. Activity rebuilt from January onwards, but Winkworth said it did not enjoy the early boost normally seen in the first few months of a new year and it took time for new deals arranged to feed through into exchanges and completions.

Chief executive officer Dominic Agace said: "We expect the second half of the year to show an improvement on the first as further new franchises open and sales agreed in the Spring market complete. The rentals and management business is expected to benefit from the important lettings months of August and September. Based on our first half performance and recent trading, we expect full year results to be in line with management expectations.

"We anticipate that the number of new franchised offices and resales to new, talented operators will continue to grow, building a compounding revenue stream for the group. Combined with an increasing number of quality applicants looking to join Winkworth and the company's strong financial position, the outlook remains positive."

At 0940 BST, the shares were up 15% to 125p.

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M Winkworth Market Data

Currency UK Pounds
Share Price 114.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 125.00
52 Week Low 105.00
Volume 0
Shares Issued 12.73m
Market Cap £14.52m
Beta 0.00

M Winkworth Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
31.3% below the market average31.3% below the market average31.3% below the market average31.3% below the market average31.3% below the market average
75% below the sector average75% below the sector average75% below the sector average75% below the sector average75% below the sector average
Price Trend
46.93% above the market average46.93% above the market average46.93% above the market average46.93% above the market average46.93% above the market average
38.98% above the sector average38.98% above the sector average38.98% above the sector average38.98% above the sector average38.98% above the sector average
Income
83.20% above the market average83.20% above the market average83.20% above the market average83.20% above the market average83.20% above the market average
26.83% above the sector average26.83% above the sector average26.83% above the sector average26.83% above the sector average26.83% above the sector average
Growth
66.05% below the market average66.05% below the market average66.05% below the market average66.05% below the market average66.05% below the market average
19.3% below the sector average19.3% below the sector average19.3% below the sector average19.3% below the sector average19.3% below the sector average

M Winkworth Dividends

  Latest Previous
  Q2 Q1
Ex-Div 25-Jul-19 25-Apr-19
Paid 22-Aug-19 23-May-19
Amount 1.90p 1.90p

Trades for --2019

Time Volume / Share Price
0 @ 0.000p

M Winkworth Key Personnel

CEO Dominic Agace
Finance Director Christopher Neoh
CFO Andrew Nicol

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