M Winkworth PLC - London-based estate agent - Posts revenue of £9.3 million for 2022, down from £9.5 million in 2021. Says sales income is down by 12% to £34.3 million from £39.0 million in 2021. Pretax profit is £2.5 million, down from £3.2 million, as operating profit decreases to £2.5 million from £3.2 million a year earlier.
Looking ahead, M Winkworth says the sales market continues to be supported by the shortage and high cost of rental property. Expects the property market to perform towards the higher end of expectations. 2022 dividend totals 11.0 pence per share, up 18% from 9.3p a year prior.
Chief Executive Officer Dominic Agace says: ‘After an exceptionally strong performance in sales in 2021, we continued to make good progress across the business in 2022, in lettings and management in particular, and have delivered a set of results which we consider to be very satisfactory against a background that was at times challenging. Many of our key metrics for 2022 are up by some 50% on 2019, the pre-pandemic year.’
Current stock price: 180.00 pence each, up 2.9% on Wednesday around midday in London
12-month change: down 5.3%
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