Business
FULL YEAR RESULTS TO 31 DECEMBER 2024
FULL YEAR RESULTS TO 31 DECEMBER 2024.
About this update from Lsl Property Services Plc
[{"type":"text","content":"\n\n 26 March 2025\n \nLSL Property Services plc (\"LSL\" or \"Group\")\n\nFULL YEAR RESULTS TO 31 DECEMBER 2024\n \nA YEAR OF POSITIVE PROGRESS AND SIGNIFICANT PROFIT GROWTH\nLSL reports its results for the 12 months ended 31 December 2024 with Group Underlying Operating Profit1,2 of £27.7m (2023: £10.3m). On a statutory basis Group Operating Profit was £21.9m (2023: £3.7m).\nThese results demonstrate the benefits of the strategic transformation of the Group over the last two years and are just above consensus expectations and materially ahead of prior year. We have made a positive start to the year with trading in line with our expectations in markets operating broadly in line with our assumptions. We continue to expect that in 2025 we will increase profits further over 2024 and the Board's expectations for the full year remain unchanged.\nDavid Stewart, Group Chief Executive commented:\n\"2024 was a year of positive progress, as we built successfully on the restructuring work completed in 2023. We were able to grow profits materially, and at a faster rate than we had anticipated at the start of the year. Trading in the early months of the new year is in line with expectations, indicating we will be able to improve performance again in 2025. I believe the Group is now well positioned to build on solid foundations and I am sure that under the leadership of Adam Castleton, who will take over as Group CEO on 1 May, the Group will go from strength to strength.\"\n \nSTRATEGIC AND OPERATIONAL HIGHLIGHTS\n2024 performance demonstrates the benefits of the successful completion of our significant restructuring and transformation programmes in 2023, as a result of which LSL is now a much simpler Group, well positioned to deliver higher operating margins, and more consistent earnings through market cycles.\n...