Winkworth has appointed a new chief financial officer, after previous finance director Chris Neoh left last month to “pursue his own business interests”.

The appointment of Andrew Nicol was announced yesterday to the stock market.

Dominic Agace, CEO of Winkworth, said: “We are delighted to welcome Andrew to the company at a time when the market place presents considerable opportunities. His experience of both working in finance at a senior level and of structuring deals will mark a new step for Winkworth as we build on the leading market position that we have already achieved.”

In the first half of 2016, Winkworth opened two new offices in Colindale and Marlborough, while three existing offices were resold to new management and two were closed.

Over the coming six months a further 6-8 new openings and a further 1-2 resales are anticipated, said the firm.

Winkworth said it also expects to see an increase in opportunities both to convert existing businesses to its brand and to grow new franchises.

A company statement said: “A weaker sales market tends to encourage employees whose income is declining to boost their earnings by owning equity in an estate agency, while existing agents, of which Winkworth is one, look to grow their market share, reduce costs and explore new options.”

Winkworth share price yesterday closed at 113p, down from the 52-week high of 169p last November. The shares hit a 52-week low of 98p in August.