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M Winkworth confident despite dip in profits
StockMarketWire.com
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Real estate agency franchisor M Winkworth has reported a slight downturn in profits.
Franchised office network revenue fell to £47.7 million for the year ended 31 December 2020, down £0.6 million from the previous year.
Revenues of £6.41 million almost match 2019s result of £6.42 million, however profit before taxation, £1.53 million, was down £100,000.
Dividends of 6.68p have been declared, down on 2019s payment of 7.8p.
Dominic Agace, CEO, commented: Our business model was tested by extreme conditions in 2020 and proven to be very robust.
'The benefits of local expertise, highly motivated managers and a state-of-the-art digital platform meant that we were quick to emerge from lockdown and improve our market share.
While challenges remain, we expect to see an increase in activity in 2021 and we are well positioned to further grow our network and respond to the evolving needs of our customers.
At 9:38am: (LON:WINK) M Winkworth plc share price was 0p at 140p
Story provided by StockMarketWire.com
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