UK's LSL Property Services H1 revenue rises 3%, backs FY outlook
UK's LSL Property Services H1 revenue rises 3%, backs FY outlook
Overview
UK property services provider's H1 revenue grew 3% yr/yr, driven by Surveying & Valuation
Adjusted diluted EPS for H1 rose 14% yr/yr
Company launched transformation programme and progressed £12 mln share buyback
Outlook
LSL says trading since period end has been as anticipated and FY2026 expectations are on track
Company expects transformation programme to deliver at least £5 mln annualised benefit, building through 2027
LSL sees resilient market conditions and expects further profit increase for FY2026
Result Drivers
TRANSFORMATION PROGRAMME - Co launched group-wide programme to simplify operations and deliver at least £5 mln annualised cost savings, with benefits expected to build through 2027
SURVEYING & VALUATION GROWTH - Division revenue rose 6% on allocation wins, improved contract terms, cost efficiencies and strong Asset Management performance
RESTRUCTURING AND COST CONTROL - Prior year restructuring and 8% reduction in central costs supported margin expansion and profit growth
Company press release: ID:nRSO7161Ua
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 92.30 mln |
|
H1 Basic EPS |
| GBP 0.086 |
|
H1 Pretax Profit |
| GBP 12.10 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the real estate services peer group is "buy."
Wall Street's median 12-month price target for LSL Property Services PLC is GBp360.50, about 44.2% above its September 14 closing price of GBp250.00
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)