REG - M Winkworth Plc - Trading Update and Dividend Declaration

M WinkworthAnnouncement

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RNS Number : 7784O  M Winkworth Plc  14 January 2026

14 January 2026

M Winkworth plc

 

Trading Update

Dividend Declaration

and

Notice of Results

 

M Winkworth plc ("Winkworth" or the "Company"), the leading London franchisor
of real estate agencies, announces the following trading update for the
financial year ended 31 December 2025 ("FY25"). The Company expects to
announce its audited final results for FY25 on, or around, 15 April 2026.

Trading Update

Following a strong performance in sales during the first half of FY25, and
continued growth in lettings, trading conditions softened more than expected
in the second half of FY25. This reflected a broader slowdown in market
activity ahead of the Autumn Budget, when a number of transactions were
deferred. As a result, Company revenues in H2 FY25 were broadly in line with
the comparative period of H2 FY24.

For FY25 as a whole, network revenues increased by approximately 6% compared
with the financial year ended 31 December 2024 ("FY24"), with sales revenues
up 9% and lettings revenues 2% higher. This performance reflects the
resilience of the Winkworth network and its exposure to established London and
regional markets, and was broadly in line with the board's expectations.

Certain costs were incurred during the year, including one-off administrative
costs and a planned increase in marketing spend in prime central London, most
of which were highlighted at the time of the H1 FY25 results, when pre-tax
profits fell by 19% on H1 FY24.  These were largely one-off costs that are
not expected to recur in future periods.

As a result of the above and the factors detailed below, Winkworth's FY25
adjusted pre-tax profits, subject to audit, are expected to be, approximately
£2.1m (FY24: £2.35m), 20% below current market expectations, with net cash
at year end to be at least £3.9m (FY24: £4.1m).

Notwithstanding that activity levels were temporarily impacted ahead of the
Autumn Budget, the measures ultimately announced did not materially alter the
underlying supply and demand dynamics in the Company's markets. With mortgage
rates expected to ease further during 2026, the Board has been encouraged by
strong levels of enquiry reported across the network so far in January 2026
and anticipates that deferred transactions will progress as confidence
improves.

During the year, the Company continued to actively manage and strengthen its
franchise portfolio. The offices in which it owned an equity stake
underperformed budget expectations during the year. Management changes have
subsequently been made and the Board expects trading to improve in 2026.

At Crystal Palace, turnover increased significantly following the Company
taking back the franchise in 2020; however, profitability did not reach
budgeted expectations during FY25. In line with the Company's stated strategy
of recycling capital via equity office investment, Winkworth sold its stake in
the office in December 2025 to a neighbouring Winkworth franchisee, and the
office is trading successfully with strong forecast revenues expected to
benefit the Company during FY26.

Elsewhere, the Company continued to provide loans to selected franchise
operators, with the expectation that this will support future revenue growth
and market share gains. In total, four new offices were opened during FY25 and
seven offices were resold to new franchisees. The Company enters FY26 with a
healthy pipeline of further opportunities.

Dividend Declaration

The directors of Winkworth are pleased to announce that the Company will pay
an ordinary dividend of 3.3p per share for the fourth quarter of 2025 (Q4
FY24: 3.3p per share), bringing the total ordinary dividend payments declared
for FY25 to 13.2p per share (FY24: 12.3p per share) an increase of 7.3%.

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

 Ex-Dividend Date *        22/01/26
 Record Date **            23/01/26
 Expected Payment Date     19/02/26
 ISIN                     GB00B4TT7L53
 GB00B4TT7L53             WINK

 

*  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

 

Dominic Agace, Chief Executive Officer of Winkworth, commented:

"Despite a temporary slowdown in activity towards the end of the year,
Winkworth has continued to invest in its franchise network and has increased
dividends to shareholders. Early enquiry levels in 2026 have been encouraging,
and with the outlook for mortgage rates improving, we believe the business is
well positioned for the year ahead."

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014, which forms part of UK law by virtue of the European Union
(Withdrawal) Act 2018. Upon publication, this inside information is now in the
public domain.

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 : 07921 881800

Charlotte McMullen

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

David Coaten

Henry Willcocks

George Payne

 

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
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