13th Oct 2022 06:55
M Winkworth PLC - London-based estate agent - Says trading in the third quarter of the financial year was "good", with a increase in sales year-on-year due in part to an overhang of uncompleted transactions from the second quarter. Says lettings showed good growth, but this was held back by a shortage of available properties, particularly in London. Expects full year pretax profit to be in line with market expectations of GBP2.1 million.
"We have not as yet witnessed a negative impact from the mini-budget on applications and sales and, although higher mortgage rates are likely to put a cap on further price appreciation, we anticipate that an increased supply of properties and persistent strong demand will support transactions for the rest of the current year," the company adds.
Current stock price: 160.00 pence
12-month change: down 21%
By Sophie Rose; [email protected]
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