Revenue growth maintained in both the Estate Agency and Surveying Divisions for LSL.

March 10, 2017

LSL Property Services plc, a leading provider of residential property services incorporating both estate agency and surveying businesses, earlier this week announced preliminary results for the year ended 31st December 2016.

The group saw operating profit growth of 58% at £65.4m compared with £41.4m  for 2015.

In the announcement they stated: Continued momentum in the Estate Agency Division with 3% overall revenue growth and Lettings income growth of 9%, delivered through organic growth and selective acquisitions.

Commenting on the announcement, Simon Embley, Chairman, said: “Following a strong first half performance, the Group delivered a resilient second half performance given the changing market conditions. I am pleased that we maintained revenue growth in both the Estate Agency and Surveying Divisions.

“The Group reacted decisively to the changing market conditions in the second half by taking selective cost measures and strengthening the balance sheet. The Group has relatively low levels of gearing and is very cash generative at an operational level. The business is well positioned to capitalise on market conditions to increase shareholder value.”

Read the announcement preliminary results for the year ended 31st December 2016 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

UK postcode study identifies where buyers get the most space for their money

New analysis has revealed the best-value postcodes for buyers: One UK town offers FOUR times more space than the national average. The study, compiled by the experts at Sell House Fast, analysed postcodes across England and Wales to identify where buyers get the most space for their money. Where £100,000 buys the most space in…
Read More →
what is happening to house prices
Breaking News

The graduate shortage: who will value Britain’s homes in 2030?

According to RICS, the average qualified surveyor is in their mid-fifties. Couple this with new entrant numbers failing to keep pace with retirements, and the profession faces a critical skills gap at the worst possible time. Ryan Mathews, Managing Director of LRG’s Surveyors division, examines why surveying struggles to attract new talent and what needs…
Read More →
Breaking News

62% of letting agents failing to comply

The latest industry insight from The Letting Partnership has found that while Client Money Protection (CMP) is a legal requirement across the lettings sector, 62% of letting agents are failing to clearly display valid CMP certification on their website, highlighting a growing issue around how compliance is demonstrated to landlords and tenants. The Letting Partnership…
Read More →
Breaking News

UK house prices sit above pandemic market peak

The latest research from Yopa has found that, six years on from the first Covid lockdown (23rd March 2020), the average UK house price remains 1.7% above the peak reached during the pandemic property market boom, despite the more subdued market conditions seen since. Yopa analysed* average house price data at three key points in…
Read More →
how to present your property for sale
Breaking News

Energy efficient upgrades now an essential home feature

Savers with student loans put away £2k less per year towards a house deposit than those without 44 per cent of those with student loans say the debt makes it harder to be financially stable, with 41 per cent saying their repayments make it harder to save for a home Barclays Mortgage data shows the…
Read More →
Breaking News

Inverclyde crowned Britain’s most affordable place for first-time buyers

Inverclyde, Burnley and Hartlepool amongst most affordable areas in Britain Kensington and Chelsea, Oxford and Cambridge least affordable North has smallest gap between least and most affordable areas in the region while London has largest Around 70% of local authorities have seen an improvement in affordability over the last year, with Islington seeing biggest improvement…
Read More →