More of the same expected this year from `profit hunter? LSL
Mon 14 Mar 2016
the Square Mile. Aldgate is at the heart of this boom, with a series of developments breathing life into an area
that was once dominated by suited insurance brokers by day, and quiet as the grave after 7pm.
In a note issued to investors last week, equity analysts Anthony Codling and Sam Cullen of Jefferies handed LSL
a 'Buy' rating.The analysts made reference to LSLs performance as the only major UK estate agent to grow
profits in 2015.LSL did not make bold claims like some that it would grow without help from the market, it just
got on with it, say the analysts. We remain buyers of the shares.Jefferies says LSL has the ambition to grow
average operating profits per branch from 42,500 to 80,000+.It also claims that Marsh & Parsons, which was
acquired by LSL in 2011, can grow its branch network by ten offices to a total of 35 during 2016.The note also
predicts that LSL will make several further lettings book acquisitions thisyear.