The head office of franchised estate agency Winkworth has reported sales agreed for its branches during 2021 up by 13% year-on-year and 42% higher than its 2019 performance.
Reporting on the three months of the year, the PLC says sales activity remained brisk helped by the stamp duty and a renewed interest in relocations among its more upmarket clientele.
During this period its rental business experienced some normal seasonal slowdown after several months of intense activity but remained strong in London. Prime Central London continues to show signs of recovery, although the outlook for international interest remains dependent on travel restrictions.
Winkworth’s branch opening continued apace too with six being established last year including two during the final quarter, with eight planned for 2022.
“Five of these offices were opened by existing franchisees and we expect our local networks to continue to grow, led by talented, proven and ambitious franchisees whose expansion we are supporting,” the company says.
“Following the strength in the market, we also expect to see an increase in approaches for franchises from new applicants.”
Commenting on its performance, CEO Dominic Agace (pictured) says: “Since our trading update of 11 November 2021, our business has continued to be strong.
“Winkworth’s full-year revenues have again exceeded management expectations and pre-tax profits are expected to be ahead of market forecasts at the time of the last trading update.”
The company will pay a dividend of 2.7p per share for the fourth quarter, up from 1.8p the same period the year before.