Insider Media Limited: Activity picks up at LSL
Fri 17 May 2013
The boss of LSL Group has said revenues at the Newcastle-headquartered estate agency and surveying businesses picked up after Easter following a "constrained" start to its first quarter.LSL's estate agency division, which operates under the Your Move, Reeds Rains, Marsh & Parsons, Intercounty, Frosts, JNP, Goodfellows, Davis Tate and Lauristons brands, was said to have traded well against a difficult market backdrop.
Lettings were up by 10 per cent year on year for the period from 1 January to 15 May. Performance in the group's surveying division was described as satisfactory relative to the market and a strong
comparative period in 2012. "Activity levels were constrained in line with the market during the first quarter but have since picked up considerably with underlying group revenue in the post Easter period up 7 per cent year on year," said chief executive Simon Embley. "The group is well positioned to benefit from its significant operational gearing if market volumes continue to improve."