Winkworth has reported a drop in overall network revenue of 1% as sales fell by 7% in the first half of this year.
Overall revenue was £21.3m, and revenue from sales was £10.8m compared with £11.6m in the same period last year.
Winkworth franchisees mostly offset the sales performance with a 6% rise in revenue from lettings and property management, at £10.3m.
The businesses also raised sales commission rates across the UK, with Winkworth saying that its clients “showed their willingness to pay for trusted expert advice to help them achieve their goals in uncertain markets”.
Winkworth head office increased both its revenues and profits.
Revenues were up 10% to £2.8m, compared with £2.5m in the same period last year.
Pre-tax profits were up 10.4% to £596,000, compared with £540,000.
Winkworth, which now has some 100 franchised offices, also reported that four new outlets opened in the period, and anticipates opening at least four more this year.
The firm said: “We continue to attract talented operators looking to take control of their earnings through active participation in our network, and our new franchising applications have increased by 135% from H1 2017.”
Winkworth declared and paid a 3.7p dividend during the first half of this year.
The City seemed to like the narrative, with the shares rising almost 15% to 125p.
Winkworth was the third franchise property firm within 24 hours to report its results for the six months to the end of June – the others being Belvoir on Tuesday and the Property Franchise Group, like Winkworth, yesterday.