M Winkworth Plc Replacement- Dividend Declaration & Trading Update (3075S)

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RNS Number : 3075S

M Winkworth Plc

13 July 2022

The following amendment has been made to the 'Dividend Declaration and Trading Update' announcement released on 13 July 2022 at 7.00 a.m. under RNS No 2309S.

In the second paragraph of the announcement, "... the exceptionally strong H2 2021,..." should read "... the exceptionally strong H1 2021,...".

All other details remain unchanged.

The full amended text is shown below.

13 July 2022

M Winkworth plc

Dividend Announcement and Trading Update

The Directors of M Winkworth Plc ("Winkworth" or the "Company") are pleased to announce that the Company will pay a dividend of 2.7p per ordinary share for the second quarter of 2022 ("Q2 2022") to shareholders.

While gross sales income across the network in H1 2022 was down some 40% on the exceptionally strong H1 2021, when buyers rushed to complete purchases to take advantage of the stamp duty holiday introduced by the Chancellor in July 2020 and extended from June 2021 to September 2021, H1 2022 was almost 50% higher than in H1 2019, the last period to be unaffected by Covid measures.

Gross lettings income showed a 6% improvement on H1 2021 and a marked increase on H1 2019.

The Directors believe that there is a backlog of unfulfilled sales transactions which are being carried over into the second half of the year and are encouraged by the good levels of both sales applications and valuations, which should provide further support to sales volumes in H2 2022. The outlook for lettings continues to be strong.

While the UK economic outlook and confidence in the housing market remain in question, the Directors are pleased with the Company's performance in H1 2022 and expect that full year pre-tax profits will be in line with the market forecast of GBP2.1m, marking a substantial increase on the outcome for 2019.

The timetable for the dividend is as follows:

 
 Ex-Dividend Date *      21/07/2022 
 Record Date **          22/07/2022 
                        ----------- 
 Expected Payment Date   17/08/2022 
                        ----------- 
 

* Shares bought on or after the ex-dividend date will not qualify for the dividend

** Shareholders must be on the Winkworth share register on this date to receive this dividend

For further information please contact:

M Winkworth Plc Tel : [phone]

Dominic Agace (Chief Executive Officer)

Andrew Nicol (Chief Financial Officer)

   Milbourne (Public Relations)                                                    Tel : [phone] 

Tim Draper

   Shore Capital (NOMAD and Broker)                                          Tel : [phone] 

Robert Finlay

David Coaten

Henry Willcocks

About Winkworth

Winkworth is the leading London franchisor of residential real estate agencies with a pre-eminent position in the mid to upper segments of the sales and lettings markets. The franchise model allows entrepreneurial real estate professionals to provide the highest standards of service under the banner of a long-established brand name and to benefit from the support and promotion that Winkworth offers.

Winkworth is admitted to trading on the AIM Market of the London Stock Exchange.

For further information please visit: www.winkworthplc.com

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July 13, 2022 03:24 ET (07:24 GMT)