Franchised estate and lettings agent M Winkworth saw revenues and PBT decline by 5% and 26% respectively – in line with our estimates – during what it described as a “difficult” market in 2016. The outlook statement anticipates a "gradual improvement in sentiment" this year. However, we have not changed our estimates for 2017, which assume continuing soft conditions. Nevertheless, we believe Winkworth’s franchising model and net cash offer it opportunities versus
30 Mar 2017
Resilient performance in “difficult” market
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Resilient performance in “difficult” market
M Winkworth plc (WINK:LON) | 162 0 0.0% | Mkt Cap: 21.0m
- Published:
30 Mar 2017 -
Author:
Alastair Stewart -
Pages:
5
Franchised estate and lettings agent M Winkworth saw revenues and PBT decline by 5% and 26% respectively – in line with our estimates – during what it described as a “difficult” market in 2016. The outlook statement anticipates a "gradual improvement in sentiment" this year. However, we have not changed our estimates for 2017, which assume continuing soft conditions. Nevertheless, we believe Winkworth’s franchising model and net cash offer it opportunities versus