LSL returns robust first half results despite drop in transactions
Group Chief Executive Adam Castleton reports the company's diversified services has protected it from a slow housing market.
Agency giant LSL is reporting decent figures for the first six months with its range of services helping to shield it from a subdued property market.
The parent company of Reeds Rains and Your Move, reports group revenue increased 3% to £92.3million, compared to £89.7million for the same period in 2025.
The company, which describes itself as one of Britain’s largest providers of services to the property and mortgage market, says group underlying operating profit increased 11% to £15.9million.
Transactions down
Transactions were down 4%, although the end of a Stamp Duty threshold in April last year affected the figures.
“We benefit from a diversified mix of income, including lettings, remortgaging, platform and other fees. Therefore, the majority of group income is not directly dependent on residential property transactions,” LSL says.
Our markets developed broadly as expected despite prevailing negative sentiment.”
Adam Castleton, Group Chief Executive at LSL (pictured), says: “LSL performed well in the first half, delivering further profit and margin growth and strong cash generation. Our markets developed broadly as expected despite prevailing negative sentiment.
“We launched a Group-wide transformation programme expected to improve our structural cost-effectiveness and leverage our scale. The programme will simplify how we operate, strengthen our capabilities and support further structural improvement in margins.”
In January, the group announced the signing of its first Automated Valuation Model (AVM) contract in what was a significant commercial milestone for its surveying and valuation arm, E.surv.
LSL purchased the Huddersfield-based property search firm National Search Service (NSS) at the beginning of the year.
