M Winkworth Plc Reports Strong 2024 Results with 17% Revenue Growth
Why we think this is good
The company has delivered a robust performance in 2024, with revenue up 17% and profit before tax increasing by 10%. The strong balance sheet, increased dividends, and improved market share all point to a healthy business. The outlook for 2025 and 2026 remains positive, with expectations of continued firm sales market and price increases in line with inflation. While there are some potential challenges in the lettings market due to new regulations, the company appears well-positioned to navigate these changes and even sees opportunities arising from them.
Key Points
- Revenue up 17% to £10.79 million
- Profit before tax increased 10% to £2.36 million
- Strong balance sheet with £4.09 million cash and no debt
- Dividends increased 5% to 12.3p per share
- Franchised office network revenue up 12% to £64.7 million
- Almost half of franchises in top three for local market share
- Positive outlook for 2025 and 2026 with firm sales market expected
- Potential challenges and opportunities in lettings market due to new regulations
Summary
M Winkworth Plc has reported strong results for 2024, with revenue up 17% to £10.79 million and profit before tax increasing 10% to £2.36 million. The company maintains a strong balance sheet with £4.09 million in cash and no debt. Dividends have increased by 5% to 12.3p per share. The franchised office network saw a 12% increase in revenue to £64.7 million, with growth in both sales and lettings. Almost half of the franchises are now in the top three for market share in their local areas. The outlook for 2025 and 2026 remains positive, with expectations of a firm sales market and price increases in line with inflation. While new regulations pose some challenges in the lettings market, the company sees opportunities arising from these changes.