Update: Making the challenging 2015 targets
With its interim results in August 2015, LSL targets implied a more than trebling of H215 operating profit compared with H115. Despite a continuation of limited numbers of properties coming to market, macro uncertainty and a number of cautionary comments by peers late in 2015, with this trading statement LSL announced it still expected to deliver on this promise. The mix of revenue was also as expected. We believe the company's expectations on delivery will be well received by the market.LSL Property Services is a provider of residential property services to its key customer groups incorporating both estate agency and surveying businesses. Co. has two reportable operating segments. The Estate Agency and Related Services segment provides services related to the sale and letting of residential properties; provides repossession asset management services; and arranges mortgages for a number of lenders and arranges pure protection and general insurance policies for a panel of insurance companies. The Surveying and Valuation Services segment provides a valuations and survey service of residential properties to various lending corporations and individual customers.
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