Stockopedia: Buoyed by Estate Agency Growth
Wed 27 Mar 2013
Buoyed by Estate Agency Growth
Mar 27th 2013 - today published a report on update entitled "Buoyed By Estate Agency Growth". In summary, the report says:
Strong growth in estate agency income in FY12 was driven by lettings and a full year of Marsh & Parsons. This offset lower-than-expected surveying income; a combination of anticipated losses of lender contracts, plus surprise falls in contributions from clients such as Santander whose UK mortgage market share fell y-o-y. Marsh & Parsons, LSLs London-based estate agency is poised for expansion; four new branches are planned this year. There was no further provision for professional indemnity (PI) claims which have tracked as anticipated since June 2012. Despite theoretical potential for new claims, the risk appears satisfactorily covered.
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