LSL upbeat after ‘strong’ H1

Interim results expected to be 'significantly' ahead of the same period last year...

LSL has released an upbeat little nugget ahead of its next big results announcement.

An unscheduled trading update from the group, which owns a chunky portfolio of agency and surveying brands including Marsh & Parsons, Lauristons, Your Move, Reeds Rains, e.surv and Hawes & Co, said trading had be “strong” in the first half of 2017, with a “good performance in June”.

Interim results are expected to be “ahead of the Board’s expectations” and “significantly” ahead of the same period last year. Despite the general market malaise, the estate agency division looks to have outperformed, with both lettings and financial services posting strong income growth.

The statement added: “As a result, the Board anticipates that full year 2017 Group Underlying Operating profit will be materially ahead of its prior expectations, with a more equal weighting between the first and second half compared to prior years.”