Winkworth reveals profit down 11% and warns this year “uncertain”
CEO of property franchise firm says its profit figure fell to £2.11 million in 2025, and gives big warning that 2026 is difficult to forecast.
Property franchise firm Winkworth has revealed profit was down 11% last year and revenue flat, with a warning that this year is uncertain.
CEO Dominic Agace (pictured) says there has been “a sharp reversal” in the mortgage market due to war in the Middle East, which makes it difficult to forecast results for this year.
“After a strong performance in H1 2025, performance in H2 was impacted by uncertainty ahead of the UK Government’s Autumn Budget,” Winkworth says.
Profit down
Profit before taxation was down 11% to £2.11 million (2024: £2.36 million), and revenue of £10.74 million was flat on 2024 (2024: £10.79 million). Sales revenues were 52% of total revenues (2024: 51%).
Four new offices were opened in 2025 (2024: three), and seven franchises were resold to new operators.
Franchised office network revenue was up 6% at £68.7 million (2024: £64.7 million), and network sales revenue up 10% to £35.8 million (2024: £32.7 million).
Network lettings revenue was up 3% to £32.9 million (2024: £32.0 million).
Last month, Winkworth snapped up Peter Clarke, a well-known independent estate agency in the Midlands.
Tensions
Dominic Agace, CEO at Winkworth, says: “After a steady start to the year, early 2026 trading across our network has been resilient, with sales applicant registrations and agreed sales broadly in line with recent years.
“Demand remains focused on good-quality homes in well-connected and established neighbourhoods. This offers some encouragement for a busier H2 after a disappointing H2 2025.
“Geopolitical tensions, however, including ongoing instability in the Middle East and its impact on energy prices and sentiment, are likely to remain sources of uncertainty where only time will tell the impact on the UK market,” he says.
“The BoE’s reductions in bank rate to 3.75% supported improved mortgage affordability earlier in the year, with fixed rates reaching their lowest levels since 2022.
The conflict in the Middle East has led to a sharp reversal.”
“The conflict in the Middle East has led to a sharp reversal, however, with major lenders raising fixed mortgage rates and withdrawing products as swap rates have risen on inflation concerns.
“The prospect of further bank rate cuts has receded for now. We continue to expect modest house price growth in 2026 as real incomes recover but recognise that the near-term outlook for mortgage costs and inflation is considerably more uncertain than it was at the start of the year.”
