LSL Property Services Pre Interim Results Trading Update (1833L)
July 17 2017 - 2:00AM
UK Regulatory
TIDMLSL
RNS Number : 1833L
LSL Property Services
17 July 2017
FOR IMMEDIATE RELEASE
17(th) July 2017
LSL Property Services plc ("LSL")
Pre Interim Results Trading Update
LSL Property Services plc, a leading provider of residential
property services incorporating both Estate Agency and Surveying
businesses, updates on trading ahead of the announcement of its
interim results on 1(st) August 2017.
Trading Update
Following LSL's positive AGM statement issued on 27(th) April
2017, trading for the first half of 2017 has been strong including
a good performance in June. LSL therefore expects to report strong
interim results on 1(st) August ahead of the Board's expectations
and significantly ahead of the same period last year, with the
Estate Agency Division performing ahead of the Board's expectation
and delivering strong growth in Lettings and Financial Services
income, and with a strong performance by the Surveying Division.
The results for the first half 2017 have also benefited from a
small number of non-recurring items in comparison to the same
period in 2016.
As a result, the Board anticipates that full year 2017 Group
Underlying Operating profit (1) will be materially ahead of its
prior expectations, with a more equal weighting between the first
and second half compared to prior years.
LSL will provide a further update with its interim results on
1(st) August 2017.
This announcement has been determined to contain inside
information.
Notes to Trading Update
(1) Group Underlying Operating Profit is before exceptional
gains and exceptional costs, contingent consideration, amortisation
of intangible assets and share-based payments
For further information, please contact:
Ian Crabb, Group Chief Executive
Officer
Adam Castleton, Group Chief
Financial Officer
LSL Property Services plc 0207 382 0360
Richard Darby, Gemma Mostyn-Owen
Buchanan 0207 466 5000
Forward Looking Statements:
This trading update may contain forward looking statements with
respect to certain plans and current goals and expectations
relating to the future financial condition, business performance
and results of LSL. By their nature, all forward looking statements
involve risk and uncertainty because they relate to future events
and circumstances that are beyond the control of LSL including,
amongst other things, UK domestic and global economic and business
conditions, market related risks such as fluctuations in interest
rates, inflation, deflation, the impact of competition, changes in
customer preferences, delays in implementing proposals, the timing,
impact and other uncertainties of future acquisitions or other
combinations within relevant industries, the policies and actions
of regulatory authorities, the impact of tax or other legislation
and other regulations in the UK. As a result LSL's actual future
condition, business performance and results may differ materially
from the plans, goals and expectations expressed or implied in
these forward looking statements. Nothing in this Report should be
construed as a profit forecast.
Notes on LSL:
LSL is a leading provider of residential property services to
its key customer groups. Services to consumers include: residential
sales, lettings, surveying, conveyancing and mortgage, pure
protection and general insurance brokerage services. Services to
mortgage lenders include: valuations and panel management services,
asset management and property management services. For further
information, please visit LSL's website: www.lslps.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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