REG - M Winkworth Plc - Dividend Declaration and Trading Update

M WinkworthAnnouncement

13/07/2022 07:00

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RNS Number : 2309S  M Winkworth Plc  13 July 2022

13 July 2022

M Winkworth plc

Dividend Announcement and Trading Update

 

The Directors of M Winkworth Plc ("Winkworth" or the "Company") are pleased to
announce that the Company will pay a dividend of 2.7p per ordinary share for
the second quarter of 2022 ("Q2 2022") to shareholders.

While gross sales income across the network in H1 2022 was down some 40% on
the exceptionally strong H2 2021, when buyers rushed to complete purchases to
take advantage of the stamp duty holiday introduced by the Chancellor in July
2020 and extended from June 2021 to September 2021, H1 2022 was almost 50%
higher than in H1 2019, the last period to be unaffected by Covid measures.

Gross lettings income showed a 6% improvement on H1 2021 and a marked increase
on H1 2019.

The Directors believe that there is a backlog of unfulfilled sales
transactions which are being carried over into the second half of the year and
are encouraged by the good levels of both sales applications and valuations,
which should provide further support to sales volumes in H2 2022. The outlook
for lettings continues to be strong.

While the UK economic outlook and confidence in the housing market remain in
question, the Directors are pleased with the Company's performance in H1 2022
and expect that full year pre-tax profits will be in line with the market
forecast of £2.1m, marking a substantial increase on the outcome for 2019.

The timetable for the dividend is as follows:

 Ex-Dividend Date *       21/07/2022
 Record Date **           22/07/2022
 Expected Payment Date    17/08/2022

 

*  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

Robert Finlay

David Coaten

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.

 

For further information please visit: www.winkworthplc.com
(http://www.winkworthplc.com)

 

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