Winkworth has announced its audited results for the year ended 31 December 2024.
The company says its financial performance in 2024 was in line with management expectations.
+ Revenues of £10.79m up by 17% on 2023 (2023: £9.27 million).
+ Profit before taxation up 10% to £2.36m (2023: £2.15m).
+ Strong balance sheet with year-end cash balance of £4.09m (2023: £4.55m) and with no debt.
+ Full year dividends of 12.3p per ordinary share declared (2023: 11.7p per ordinary share), an increase of 5% on the prior year.
+ Three new offices opened in the year (2023: 4) and five franchises resold to new operators.
+ Franchised office network revenue up 12% at £64.7 million (2023: £57.8m).
– Network sales revenue up 18% to £32.7 million (2023: £27.6m).
– Network lettings revenue up 6% to £32.0 million (2023: £30.2m).
+ Sales revenues 51% of total revenues (2023: 48%).
Dominic Agace, CEO of the company, commented: “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.”
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