REG - M Winkworth Plc - Dividend Announcement and Trading Update

M WinkworthAnnouncement

10/07/2024 07:00

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RNS Number : 7447V  M Winkworth Plc  10 July 2024

10 July 2024

M Winkworth plc

Dividend Announcement

and

Trading Update

 

M Winkworth plc ("Winkworth" or the "Company"), the leading franchisor of real
estate agencies, is pleased to announce that the Company will pay a dividend
of 3p per ordinary share for the second quarter of 2024 to shareholders.

Following expectations that interest rates had hit their peak in January, the
sales market picked up significantly in Q1 2024 and, despite rates remaining
unchanged, improved sentiment on the UK economy maintained this momentum.
Winkworth's sales agreed in H1 2024 were 19% higher than the comparable period
in 2023. With transaction times still extended, however, we would expect
many of the sales agreed in H1 2024 to complete in H2 2024.

The run up to the general election appears to have had a less dramatic impact
on the property market than in previous instances except for on the demand for
high-end properties, where a combination of the Conservative Party's removal
of non-domiciled status, the Labour Party's stated intention of adding VAT to
private school fees, and the higher cost of finance have weighed on this
sector.

Lettings activity remained positive in H1 2024, albeit increased sales
activity and affordability ceilings having been reached led to a greater
supply of rental properties and a fall in applicants.

As planned, in the first half of the year the Company opened three new offices
and resold four franchises.

Preliminary results show H1 2024 network sales up by approximately 8% on H1
2023 and H1 2024 network lettings by approximately 4% compared with the prior
year.

The Directors expect pre-tax profits for the year to 31 December 2024 to be in
line with market expectations of £2.4 million.

The timetable for the payment of the ordinary dividend is as follows:

 Ex-Dividend Date *       18/07/24
  Record Date **          19/07/24
 Expected Payment Date    14/08/24

 

*  Shares bought on or after the ex-dividend date will not qualify for the
dividend

** Shareholders must be on the Winkworth share register on this date to
receive this dividend

 

For further information please contact:

M Winkworth
Plc
Tel : 020 7355 0206

Dominic Agace (Chief Executive Officer)

Andrew Nicol (Chief Financial Officer)

Milbourne (Public
Relations)
Tel : 07903 802545

Tim Draper

Shore Capital (NOMAD and Broker)
                                    Tel :
020 7408 4090

David Coaten

Rachel Goldstein

Henry Willcocks

 

About Winkworth

Winkworth is the leading London franchisor of residential real estate agencies
with a pre-eminent position in the mid to upper segments of the sales and
lettings markets. The franchise model allows entrepreneurial real estate
professionals to provide the highest standards of service under the banner of
a long-established brand name and to benefit from the support and promotion
that Winkworth offers.

Winkworth is admitted to trading on the AIM Market of the London Stock
Exchange.

www.winkworthplc.com
(https://url.avanan.click/v2/___http:/www.winkworthplc.com___.YXAxZTpzaG9yZWNhcDphOm86YjI4MzE2ZWY0ZDBjMjcwNWEwOTVkOGE2NWFmMTg4Yjg6NjpjYjI0OjZjZTQ5MTAyMGI5NDQ2N2U4YWM4ZTE2MTg1MjMyYmYzOGVkODk0ZTkzYzkwZTMwMmQ4MjE1ODE4NzkxMWM2ZTI6cDpUOk4)

 

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