LSL Property Services says a better-than-expected December has helped to lift full-year profit by a fifth.
In a trading update for 2020, the group said its financial services and surveying arms had a busier December than anticipated, and that the residential sales exchange pipeline in its estate agency business is almost two-thirds ahead of a year ago, with “no evidence of a material increase in residential fall-through trends”.
The company now expects underling operating profit for 2020 to come in at £45.1m, up from £37m a year ago despite a 15% fall in revenue. Revenue has picked up during the second half of the year, the company added, and was up 12% year-on-year during December.
