Winkworth has reported a strong uplift in network sales revenue in its unaudited interim results for the six months ending 30 June 2025, signalling a return of buyer confidence and increased market activity.
Key Highlights:
Total network revenues rose by 15% to £32m (H1 2024: £27.9m)
Network sales revenue increased by 27% to £16.9m (H1 2024: £13.4m)
Lettings revenue also grew, albeit more modestly, by 4% to £15.1m (H1 2024: £14.5m)
Sales revenue accounted for 53% of total network income, up from 48% in H1 2024
At the company level, Winkworth’s own revenues edged up 1% to £5.2m (H1 2024: £5.14m), while its majority-owned offices generated £1.67m in revenue and a profit before tax of £80,000, up from a loss in the same period last year.
Despite the uptick in activity, profit before tax dipped by 19% to £0.83m (H1 2024: £1.02m), which the company attributed to one-off costs including office relocation and a strategic increase in marketing spend, particularly focused on prime central London.
Net cash from operating activities doubled to £0.96m (H1 2024: £0.48m)
Cash balance stood at £3.86m at 30 June 2025 (H1 2024: £4.12 m)
The group continued to grow its franchise network, with three new offices opened and two offices refranchised during the period.
Reflecting confidence in the long-term outlook, Winkworth also declared increased ordinary dividends of 6.6p per share (H1 2024: 6.0p).
Dominic Agace, CEO of Winkworth, commented: “We are delighted with our performance in sales in H1 2025 and the solid contribution from lettings, where management fees are making an increasingly important contribution. Net cash generated by the business nearly doubled compared to the first half of 2024, and we have continued to invest in our franchisees, while supporting them through new marketing initiatives.
“We have also substantially increased the payout to shareholders. Further activity in our network should result in us finishing the year above our target of opening or reselling eight franchises per year.”
LSL: Half year results for the six months ending 30 June 2025
