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