- Estate agency franchisor M Winkworth posted a rise in annual profit and said it had sufficient financial resources for the foreseeable future.

Pre-tax profit for the year through December increased to £1.63m, up from £1.45m on-year.

Revenue climbed to £6.4m, up from £5.8m.

M Winkworth declared dividend for the year of 7.8p per share, up from 7.45p, having already paid its fourth-quarter dividend in February.

'In 2019, we recorded another good set of results against testing market conditions, and the increase in our dividend reflects this achievement,' chief executive Dominic Agace said.

'We are now waiting to see how great an impact the coronavirus crisis will have on the current year's trading and doing all we can to safeguard our franchisees, customers and employees.'

'The long-term fundamentals for the housing market remain in place and with a strong financial position and a proven, defensive model, we are well placed to withstand this fast-moving situation.'

At 9:52am: [LON:WINK] M Winkworth plc share price was 0p at 95p

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