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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
M Winkworth
M Winkworth (WINK) investor relations material
M Winkworth H2 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 TU earnings summary14 Jan, 2026
Executive summary
Network revenues for FY25 increased by approximately 6% year-over-year, with sales revenues up 9% and lettings revenues up 2%.
Trading conditions softened in H2 FY25 due to a broader market slowdown ahead of the Autumn Budget, leading to H2 revenues being flat year-over-year.
Four new offices were opened and seven offices were resold to new franchisees during FY25, with a strong pipeline for FY26.
Financial highlights
Adjusted pre-tax profits for FY25 are expected to be approximately £2.1m, down from £2.35m in FY24 and 20% below current market expectations.
Net cash at year end is expected to be at least £3.9m, compared to £4.1m at the end of FY24.
Total ordinary dividend for FY25 declared at 13.2p per share, up 7.3% from 12.3p per share in FY24.
Outlook and guidance
Early 2026 enquiry levels are strong, with expectations that deferred transactions will progress as market confidence improves.
Easing mortgage rates in 2026 are anticipated to support improved trading conditions.
Detail the primary drivers of the 20% profit miss
What is the future strategy for equity-owned offices?
Justify the dividend increase despite profit decline
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Next M Winkworth earnings date
H2 202515 Apr, 2026
M Winkworth
Next M Winkworth earnings date
H2 202515 Apr, 2026
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