Winkworth profit falls by a quarter, eyes upturn

Residential estate agent M Winkworth revealed a 25 per cent slump in half year pre-tax profit, after exceptional costs subdued market conditions, but it anticipates transactions in the UK will rise by 10 per cent in 2012 following an upturn in the final quarter.

Residential estate agent M Winkworth revealed a 25 per cent slump in half year pre-tax profit, after exceptional costs subdued market conditions, but it anticipates transactions in the UK will rise by 10 per cent in 2012 following an upturn in the final quarter.

The group, which has been selling property since 1835, said pre-tax profit fell to £421,140 for the six months ended June 30th 2012 from £564,846 for the same period in 2011 after £90,000 of exceptional costs.

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