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

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

Love or Hate Rightmove
Breaking News

Rightmove comment & mortgage rates ahead of Spring Budget tomorrow

Matt Smith, Rightmove’s mortgage expert said: “The relative stability of the mortgage market at the start of this year appears to have helped give more movers confidence. However, ahead of the Spring Budget tomorrow, demand has been slowest to pick up in the typical first-time buyer homes sector. After demonstrating resilience and determination last year, the…
Read More
Breaking News

Breaking Property News – 04/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Spring Budget – what has Jeremy Hunt got in store for the property sector? Two important things happen this coming Wednesday the 6th of March at 12.30pm, Zara my co-director goes for her six weekly groom, and the Chancellor of the exchequer Mr Hunt…
Read More
Software & Tech

Color Prediction Games and the Role of Emotional Intelligence in Success

Color prediction games, often celebrated for their dynamic and visually engaging nature, require more than just strategic thinking. The role of emotional intelligence in these games is a crucial factor that can significantly impact a player’s success. In this article, we explore how emotional intelligence comes into play in color prediction games and influences the…
Read More
Breaking News

Breaking Property News – 01/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Table of ContentsHide Alto reveals ‘next generation’ of Lettings Progression Birchgrove and Hybr launch intergenerational living scheme Laura Hamilton to present Guild Awards at the Annual Guild Conference   Alto reveals ‘next generation’ of Lettings Progression Alto, software for estate agents and part of…
Read More
Breaking News

Breaking Property News – 29/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Laura Hamilton to present Guild Awards at the Annual Guild Conference The Guild of Property Professionals is thrilled to announce that Laura Hamilton, renowned TV Presenter, Property and Travel Expert, and Entrepreneur, will be presenting the Guild Awards at the Annual Guild Conference and…
Read More
Breaking News

Breaking Property News – 28/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Birchgrove and Hybr launch intergenerational living scheme A unique partnership will see students, key workers and retirees live together at new north London retirement development. Birchgrove, the UK’s leading provider of rented retirement homes, and Hybr, the UK’s leading student letting platform, today announce an industry-first…
Read More