M Winkworth Share Discussion Threads

[aleman] 24/7/2018 14:26

There's a little update on the end of the return of capital confirmation.



Dominic Agace, CEO of the Company, commented: "Winkworth continues to be cash generative and has a strong balance sheet, so we welcome this opportunity to return excess capital to shareholders. It remains the Company's policy, market conditions permitting, to make quarterly dividend payments, and we declared a second quarter dividend on 18 July. While the sales market remains challenging, our lettings business has started the year strongly and we continue to grow our franchise network."

[aleman] 22/6/2018 07:35

I reckon the return of surplus capital equates to 9.0p.

[aleman] 18/6/2018 11:30

I've topped up. The shares are cautiously rated even though the company is still expanding its office numbers at minimal cost and disruption. The latest rightmove survey says London sales volumes were -5.0% in May, compared to a YTD of -6.5%. Although prices are down for the 10th month in the capital, it agrees with other surveys/Foxtons which indicate lower prices might be starting to stimulate slightly more activity.

[aleman] 17/5/2018 07:58

Foxtons update - recent improvement seen:

Conditions in the London property market remain very challenging with sales volumes lower than prior year. Foxtons entered 2018 with a lower sales pipeline compared to the same point last year and this resulted in lower levels of activity in the quarter. Performance in lettings was impacted by a slow start to January and the timing of Easter, which had a negative effect on revenue. In the first quarter of 2018 group revenue was GBP24.5m compared to GBP28.7m in the first quarter of last year. This comprised sales revenue of GBP8.2m (2017: GBP11.1m), lettings revenues of GBP14.3m (2017: GBP15.5m), and Alexander Hall mortgage revenue of GBP2.0m (2017: GBP2.1m).

Whilst the sales pipeline has begun to improve it remains below where it was this time last year. The performance of our lettings business improved towards the end of the quarter and throughout April.

Foxtons remains in a strong financial position with a net cash balance.

[wilmdav] 29/3/2018 12:06

Solid results with the usual outperformance of cash flow. An excellent income stock and early signs of recovery in share price.

[gfrae] 25/1/2018 08:57

And also CWD per recent figures.

[aleman] 25/1/2018 08:03

WINK look to be doing a bit better than FOX.

[callumross] 08/9/2017 23:31

Just received my quarterly 1.8p dividend today so a net yield of 7.2% which is pretty impressive in todays low yield markets where it is pretty much impossible to get 2% in any high street savings account. Is it sustainable when the dividend cover is not much above 1? I guess that uncertainty is why the shares trade so low. We will have a better idea when the interims are released in the next week or so.

[ny boy] 03/8/2017 19:39

Rename themselves Winklebricks that should give them a billion pound valuation overnight 🙄

[dangersimpson2] 03/8/2017 16:38

They should rename their franchisees 'Local Property Experts' offer a fixed price option and investors would suddenly think this was worth 100x the current market cap ;-)

[callumross] 03/8/2017 16:03

Must be a seller in the wings as steady buying but the share price continues to drift.

[wilmdav] 29/7/2017 14:27

I still like the look of these. Cash now 23.6% of market cap.

Share options restructured on 12/05/17 now exercisable at 150p rather than 200p but number reduced from 636,662 to 360,000

Half-year results expected around 13 September. There is always a significant seasonal effect, H1 lower than H2.

[ntv] 18/5/2017 11:50

sold mine because of weird price action the other day
plus director reducing price of options

[ny boy] 12/5/2017 08:44

Buyers coming in...volumes picking up in the sector, FOXT is just starting a potentially big breakout.

[wilmdav] 11/5/2017 17:35

Almost completely off the radar, this one!
I like the look of it.
London business has suffered due to stamp duty increases but there are signs the market (lower prices) has digested this. Provincial expansion going well.
Highly cash generative business model. Prudent management. Net cash 21% of market cap.
It will not set my portfolio on fire but I expect a very healthy return over the next 2 years.
I am no chartist but suspect those who are, will like the look of what's happened to the moving average (monthly I think).

[luckymouse] 30/3/2017 02:12

accumulation zone?

[ntv] 26/9/2016 19:23

new share options for £2 per share
interesting considering where the share price is now

[ntv] 13/9/2016 09:42

shame they don't list the one off costs for moving, july was obviously slow for sales but the bigger gains are coming from rentals
even if there is another down turn comes at least banks and bs have realised that not selling the repo's and renting them out is a better option
with lots of nett cash for a good dividend under pinning the shares

[inflectionpoint] 01/5/2014 11:03

trade with HL and you will get inside the spread... often the offer on the RSP is much better than the quoted offer

[sailing john] 29/4/2014 11:27

Edison have initiated coverage
Nice steady growth from low risk franchise model with a decent yield
Horrible spread though

[inflectionpoint] 29/4/2014 08:28

fantastic set of numbers & Liberum have upgraded their estimates by 20%>..

price yet to move?