simon embley

LSL reveals profits up by 8% and two more digital investments

Estate agency corporate LSL boosted its performance last year with a £5.6 million windfall from the sale of its shares in the Guild of Professional Estate Agents, its preliminary results reveal, lifting underlying profits by 8%. This  ‘exception gain’ plus increased revenue from its branch network including a 10% lettings revenue increase at flagship brand  Marsh & Parsons, and very strong results from its mortgage business, helped make 2017 a good year for the company. Its performance, which has been achieved during a difficult sales market, has also been delivered despite 2016’s stellar results, which were boosted by a £32.9 million windfall from the sale of ZPG shares. Last year it also spend £20 million spent on its investment in hybrid agency YOPA in September and, after its strategic review, two other interesting investments. This includes an undisclosed sum in Zero Deposit, the Jon Notley-led alternative deposits model, and £65,000 invested in an online mortgage broker called Property Master. “The Group delivered a robust financial performance given the subdued market conditions,” says Chairman Simon Embley (pictured, left). “I am pleased that the business delivered underlying operating profit growth in both the Estate Agency and Surveying Divisions.” LSL is much loved…