StockMarketWire.com - Estate agent M Winkworth more than doubled its interim dividend as it posted a rise in first-half profit underpinned by a resurgent property market.

Pre-tax profit for the six months through June increased to £1.98 million, up from £0.46 million year-on-year, as revenue jumped 92% to £36.4 million.

M Winkworth declared an interim dividend of 8.3p per share, up from 3.08p year-on-year.

'While the first half of this year was marked by an exceptional level of sales activity, it also vindicated our strategic expansion in recent years into the country, enabling us to service clients not only in the buoyant London market, but also Londoners and country dwellers seeking more space or a change in environment,' chief executive Dominic Agace said.

'Our rental business remained strong, albeit on this occasion it was outshone by sales, and we are again encouraged by the number of applications from talented operators looking to work within our successful and well-balanced franchise model.'






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