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M Winkworth PLC on Wednesday reported a rise in profit during 2024 on improved revenue, due to a ‘strong’ sales market. The London-based franchisor of real estate agencies said pretax profit for 2024 rose 14% to £2.4 million from £2.1 million in 2023. Revenue grew 16% to £10.8 million from £9.3 million, while cost of sales increased 6.3% to £1.7 million from £1.6 million. Administrative expenses were 17% higher at £6.8 million from £5.8 million. M Winkworth declared a total dividend of 12.3 pence per share, up 5.1% from 11.7p the year before. ‘While our lettings and management made further good progress in 2024, the strong performance of the sales market played to Winkworth’s skills and advantage. Almost half of our franchises and the vast majority of our London offices are now in the top three slot by market share in their local area and our performance figures continue to improve. Our portfolio management strategy is working well with the new talent that we are attracting adding to the strength of our brand and reputation,’ said Chief Executive Officer Dominic Agace. M Winkworth opened three new offices during the year, and resold a total of five franchises to new operators. Looking ahead, the firm expects price increases of around 3% to be broadly in line with inflation rates, and anticipates ‘heightened’ activity in London, driven by a return to office working. ‘Additionally, increased regulation will push more independent letting agencies to exit the business, generating opportunities for our supported acquisition programme which provides funding to franchisees that wish to acquire portfolios to bolster their business,’ said the company. Shares in M Winkworth were up 1.2% at 204.42 pence each in London on Wednesday afternoon. The stock is up 17% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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