An enormous jump in Winkworth’s share price on Friday sent it leaping 12.07% – an increase of 17.5p.
The shares finished the day at 162.5p, which is a significant pick-up from 72.5p hit in March last year – when the UK entered the first lockdown.
The reasons for Friday’s increase are not clear, but it is likely to lead to speculation, given that there is no clear reason for the surge in share price.
Other estate agency-related share prices showed little movement.
Winkworth expects to announce its final results for the year ended 31 December 2020 on or around 8 April 2021.
Comments (1)
There are very few listed estate agents left for the barbarians at the gate to attack. Certainly some predators will be eyeing this up as a potential opportunity to grab it by the scruff of the neck and roll out the brand nationwide.
However it is a very illiquid share and that price movement on Friday was on the back of a few small trades .
Much of course depends on the wishes of the Agace family who control the majority of the shares.78 year old Chairman Simon with over 40 % and son Dominic as CEO but if not now when?
Reminds me of the Beattie family who owned the department store group in the W Midlands which eventually went to House of Fraser .
Predators had been knocking at the door to no avail for years to try and get the family to relinquish control When the family patriarch keeled over on the golf course and died , the unedifying sight of golfers rushing to their phones to buy some shares before they sky rocketed
There is also plenty to like about Winkworths .Many of their branches sales inventories are showing above 60% sold SSTC or under offer which are working their way through the system.
The brand enjoys a good rep and there is a steady hand on the rudder
A franchised model but also undertake direct management to get a bigger slice of the pie.
Absence of failure rates amongst their franchisees unlike some of their peergroup
All roads lead to Damascus