M Winkworth PLC (WINK) Earnings Call Transcripts

M Winkworth PLC's Latest Earnings Call - April 15, 2026

In the fiscal year 2025, M Winkworth PLC reported network revenue of GBP 68.7 million, a 6% increase from 2024, driven by a strong lettings performance. However, the company's owned offices revenue declined by 1% to GBP 10.74 million, reflecting challenges in Central London and a drop in assignment and license fees. Management maintained a progressive dividend policy, increasing the dividend by 7% to 13.2p, signaling confidence in future cash flows despite a challenging market environment.

Reported metrics

Guidance from management

Management expects to continue investing in the business and maintaining a progressive dividend policy. They noted that the first half of 2026 is starting well, but comparisons will be challenging due to the prior year's stamp duty changes.

What management said

I suppose just to sort of give it a bit of a financial focus. In 2018, the offices that are identified as being opened in 2018 generated about GBP 9 million of network revenue. By 2025, the offices that were open generated GBP 18 million. So getting the right people in to run the offices and give them the opportunity to open other offices has a very, very positive impact on our network.

Yes. So part of we have a team who are looking at suitable acquisitions for our franchise network to help our franchisees realize those acquisitions and us provide support, obviously, where the needs to be. So that was something that landed nicely with a very capable franchisee that we are prepared to back and was a high-quality business. And so hopefully, there will be more. It is something that we are -- we do make...

What analysts pressed on

Analysts expressed concerns about the impact of slowing sales in Central London on future revenues and the potential for further market consolidation. There were also questions regarding the effectiveness of the company's strategy to attract and retain quality franchisees amidst changing market conditions.

Main topics on the call

• Revenue Performance — M Winkworth reported network revenue of GBP 68.7 million, up 6% from 2024. However, CEO Dominic Agace noted that 'the sales side...reflects...the slowing in the second half of the year.'
• Lettings Growth — Lettings revenue reached a record GBP 32.9 million, a 3% increase year-over-year. Management emphasized that 'the lettings business grew as a whole to a new record.'
• Sales Decline — Sales revenue increased to GBP 35.8 million, a 10% rise, but the growth rate slowed in the second half. Agace mentioned, 'the first half of 2025 was incredibly strong...which somewhat faded in the second half.'
• Cost Management — Administrative expenses rose by GBP 550,000 due to one-off costs and ongoing increases. CFO Andrew Nicol stated, 'the admin expenses were up about GBP 550,000 year-on-year.'

Read the full M Winkworth PLC transcript (April 15, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 3 M Winkworth PLC earnings call transcripts on record, spanning April 23, 2025 to April 15, 2026. Based on this history, M Winkworth PLC reports semi-annually. The most recent call on file is dated April 15, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WINK

Exchange

AIM

Country

GB

Sector

Real Estate

Industry

Real Estate Management and Development

Calls on record

3

First call

April 23, 2025

Most recent

April 15, 2026

Reporting cadence

semi-annually