M Winkworth plc is pleased to announce its results for the year ended 31 December 2018.
Highlights for the year
- Revenues of £5.98 million (2017: £5.42 million)
- Profit before taxation £1.45 million (2017: £1.38 million)
- Year-end cash balance of £2.94 million (2016: £3.58 million) after returning £1.15m of capital to shareholders
- Rental income increased to 50% of total revenues (2017: 46%)
- 12 new franchisees with six offices opened and six resold to new management
- Capital repayment of 9p per share made in August 2018
- Dividends of 7.45p declared and paid (2017: 7.25p)
Dominic Agace, CEO of the Company, commented:
“We are pleased with our results for 2018, achieved in a sales market which remains testing. A weaker outcome in sales was compensated for by ongoing growth in our very successful rentals business, which now accounts for half of Group revenues. After opening six new offices last year and reselling another six to new management, we expect this year to see new opportunities as some competing agencies seek to plug into to the Winkworth platform to grow their market share and others look to sell their portfolios.”
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