Winkworth has announced a significant rise in sales figures after a two years of falling sales amid a tight housing market.
The company expects pre-tax profits for the year to be in line with market expectations of £2.4m, and announced a shareholder dividend of 3p per share to be paid for the second quarter of this year.
This has been unchanged since late last year, and up marginally from 2.9p for most of 2023.
The franchise estate agency said that despite the positive sales, transaction times were still extended; it expected many of the sales to complete in the second half of the year.
Lettings activity remained positive in H1 2024, albeit increased sales activity and affordability ceilings having been reached led to a greater supply of rental properties and a fall in applicants.
As planned, in the first half of the year the Company opened three new offices and resold four franchises.
Preliminary results show H1 2024 network sales up by approximately 8% on H1 2023 and H1 2024 network lettings by approximately 4% compared with the prior year.
The company opened three new London offices this year – in St Leonard’s, Leamington Spa and Stoke Newington, and resold four franchises.
In February, Winkworth announced that it was refocusing its compliance and training activities with the appointment of solicitor Tara Tan to its main board.
