Estate agent chain LSL has seen profits rise by 180% as the pandemic subsides.
The group’s half-year results hailed a return to health, with revenue up 45% to £166.5m and profits at £27.3m. Operating margins, after Covid-19 costs, were also much healthier at 18% against last year’s sickly 8%.
As well as the reopening of the economy, LSL said its results had been boosted by the performance of its financial services arm. The division rose by 68% to account for £7.8m of profits. The firm also extended its market share in estate agency to boost underlying operating profit to £12.5m from £2.4m, while surveying and valuation profits rose by 179% to £11.4m.
