UK's M Winkworth falls on weak outlook

M Winkworth

12/07/2023 09:27

** Shares of M Winkworth Plc  WINKM.L  decline as much as
10.3% to 130p
    ** The London-headquartered franchise estate agency sees HY
pre-tax profits below both last year's level and current market
expectations
    ** Co says H2 outlook for sales uncertain; sales market
proved to be more challenging in Q2 of 2023 against backdrop of
faster-than-anticipated rise in interest rates 
    ** Adds, transactions slowed, leading to high number of
agreed sales being delayed to H2 
    * Stock set to post worst day in more than three weeks, if
trend holds; currently down 3.4%, pushing YTD losses to about 8%

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))