30th Apr 2015 11:00
LONDON (Alliance News) - LSL Property Services PLC Thursday said the outlook for 2015 remains in line with its expectations, as the company reiterated its commitment to the strategy it has in place.
The company, which provides residential property services to consumers and mortgage lenders, said it has traded "well relative to the contraction in the market" and in line with its expectations.
Group turnover for the three months ended March 31 was down 4.4%, the company said, amid a 4.0% decrease in estate agency turnover and a 5.7% decrease in surveying turnover.
"LSL remains committed to its Estate Agency strategy of increasing operating profit per branch; expanding the number of Marsh & Parsons branches; growing recurring revenue streams; evaluating selective acquisitions and to its Surveying strategy of maximising revenue generation from B2B customers and optimising capacity management," LSL Property Services said in a statement.
The company said that next week's General Election in the UK is causing "some uncertainty" but said that "positive underlying UK economic indicators support the prospect of a second half recovery".
LSL shares were down 2.6% at 350.50 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Lsl Prop