Business
Final results for the year to 31 December 2017
Final results for the year to 31 December 2017.
About this update from M Winkworth Plc
[{"type":"text","content":"\n \nRNS Number : 1548J M Winkworth Plc 28 March 2018 \n \n\nM Winkworth Plc\n \nAudited final results for the year to 31 December 2017\n \nM Winkworth plc (\"Winkworth\" or the \"Company\") is pleased to announce its \nresults for the year ended 31 December 2017\n \nHighlights for the year\n \n· Revenues of £5.42 million broadly flat against prior year despite challenging market conditions (2016: £5.57 million)\n· Profit before taxation £1.38 million (2016: £1.42 million)\n· Cash generated from operations £1.70 million (2016: £1.12 million) \n· Year end cash balance increased to £3.58 million (2016: £2.97 million)\n· Rental income increased to 46% of total revenues\n· Seven new offices opened and three resold to new management\n· Dividends of 7.25p declared and paid (2016: 7.2p)\n \nDominic Agace, CEO of the Company, commented:\n\"These good results were achieved against a testing background and we believe that a broadly flat market will continue to suit our franchise model. Our combination of local expertise, history and knowledge, combined with an evolving platform which drives leads to our office network under the umbrella of an established national brand, is a formula for success. We remain debt free, with a strong cash position and an increasing number of opportunities to grow in 2018.\" \n \nFor further information please contact:\n \n\n\n\n\nM Winkworth Plc\n\n\nTel: 020 7355 0206\n\n\n\n\nDominic Agace (Chief Executive Officer)\n\n\n \n\n\n\n\nAndrew Nicol (Chief Financial Officer)\n\n\n \n\n\n\n\nMilbourne (Public Relations)\n\n\nTel: 020 3540 6458\n\n\n\n\nTim Draper\n\n\n \n\n\n\n\nStockdale Securities Ltd (NOMAD and Broker)\n\n\nTel: 020 7601 6100\n\n\n\n\nRobert Finlay\n\n\n \n\n\n\n\nEd Thomas\n\n\n \n\n\n\n\n \nAbout Winkworth\n \nEstablished in Mayfair in 1835, Winkworth is a leading 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 b...