M Winkworth Plc – Half-year Report

M Winkworth Plc – Half-year Report

Highlights for the period

 

·     Revenues down 2.5% to £2.73 million (H1 2018: £2.80 million)

·     Profit before taxation down 1.0% to £588k (H1 2018: £594k)

·     Cash balance at 30 June 2019 of £2.51 million – after returning £1.15m to shareholders in August 2018 (30 June 2018: £3.16 million)

·     Rental income increased to 53% of total revenues (H1 2018: 49%)

·     Three new offices signed up

·     Dividends of 3.8p declared and paid during the period (H1 2018: 3.7p)

 

Dominic Agace, Chief Executive Officer of the Company, commented:

 

While the sales market continues to be undermined by political and economic uncertainty, our ship remains steady and we look forward to an eventual revival in activity. In the meantime, I am delighted by the ongoing growth in our lettings and management business as our franchisees have worked tirelessly to build this side of the business.  We are confident of our proposition and very pleased to see continuing high numbers of potential new franchisees applying to join the group.”  

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