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IN BRIEF: LSL Property Services to focus on restructuring

25th May 2023 11:18

LSL Property Services PLC - Newcastle, England-based estate agency - Says its expectations for the full-year remain unchanged ahead of its annual general meeting on Thursday, but forecasts a "more pronounced" weighting in the second half as consumer confidence increases. Says it is "well-placed to grow" as its entire owned estate agency network of 183 branches are set to become franchises. This "strategic" move was announced earlier this month to "simplify" the company and focus its activities on business-to-business services. Says focus will be on re-structuring in order to deliver improved results in 2024.

Non-executive Chair Bill Shannon will step down following the AGM.

Current stock price: 268.00 pence, down 3.6% on Thursday

12-month change: down 23%

By Sabrina Penty, Alliance News reporter

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