LSL Property Services has reported record underlying operating profits driven by strong performance across its core businesses.
The Newcastle-based firm - which includes the Reeds Rains and Your Move brands - said underlying operating profits increased to £49.3m, up 40% from £35.2m in 2021, on group revenue of £326.8m, up from £266.7m.
Investors were told LSL’s focus on financial services will help it face a more challenging housing market in months to come as it pointed to estimates that suggest the mortgage market will be about 11% lower than in 2021 and housing transactions about 19% lower.
