LSL PROPERTY SERVICES : Confident For 2014 As Estate Agency Arm Performs Well
Wed 07 May 2014
LONDON ( Alliance News ) - Residential property services business LSL Property Services PLC Thursday reported a strong start to 2014, as its estate agency and surveying businesses both recorded growth.
In an interim management statement for the period January 1 to May 7 , the company said its estate agency division traded very well, with revenue up 26% in three months to March 31 compared with the same period in 2013, and up 24% in the four months to April 30 compared with a year earlier. Within the estate agency division, exchange and lettings income rose 34% and 12% year-on-year, respectively.
LSL said Marsh & Parsons, which it acquired in 2011, saw revenue rise 23% year-on-year, with one new branch opening to date in 2014.
The surveying division also traded well, with revenue up 21% in the three months to March 31 compared with the same period in 2013 and up 14% in the fourth months to April 30 compared with a year earlier.
Overall, LSL said the market began to improve from April 2013 onwards and "while comparatives will be more challenging for the rest of the year, it is still expected that there will be significant growth in market transaction volumes in 2014".
The stock was trading at 415.00 pence Thursday, down 4.75p or 1.1%.