Business
Pre-Close Trading Update
LSL Property Services PLC announced a pre-close trading update for the year ended 31 December 2025, reporting in-line results with improved underlying operating profit across all three divisions and a record high Group Underlying Operating Margin of approximately 18%. Group revenue increased by around 6% to approximately £183 million, with Group Underlying Operating Profit expected to rise by over 15% and net cash standing at £27.8 million. Strategic progress includes the first Automated Valuation Model contract for the Surveying & Valuation Division, an increased market share of 11.8% for the Financial Services Division, and the bolt-on acquisition of National Search Service. Furthermore, LSL is launching a new £12 million share buyback programme, following the completion of a £7 million programme. The company anticipates another year of profit growth in 2026, supported by positive early trading. Disclaimer*
About this update from Lsl Property Services Plc
[{"type":"text","content":"\n\n27 January 2026\nLSL Property Services plc (\"LSL\" or \"Group\")\nPre-Close Trading Update\nIn line results, further strategic progress and new £12m share buyback programme\nLSL is pleased to announce its pre-close trading update for the 12-month period ended 31 December 20251, an update on strategic progress and a new £12m share buyback programme.\nTrading highlights\nThe full year results for 2025 are in line with the Board's expectations with a strong performance in the second half of the financial year. All three divisions delivered improved Underlying Operating Profit. Central costs were reduced year-on-year.\n· Group Revenue up c.6% to c.£183m (2024: £173.2m)\n· Group Underlying Operating Profit is expected to increase by over 15% on the prior year, with second half profit up by c.30%\n· Group Underlying Operating Margin increased to a record high of c.18% (2024: 16%)\n· Net cash was £27.8m at 31 December 2025 (30 June 2025: £22.0m). Cash conversion normalised in the second half as expected, with full-year cash conversion of over 85%\nAgainst a mixed market backdrop, the Group continues to make positive progress, benefiting from its capital-light, structurally higher-margin business model and a sustained focus on operational improvement, cost discipline and disciplined growth opportunities.\nStrategic progress\nThe Group has continued to deliver strategic progress across its businesses, including:\n· The Surveying & Valuation (\"S&V\") Division signed its first Automated Valuation Model (\"AVM\") contract with one of the UK's largest banking groups, reflecting S&V's product suite expansion and commitment to technological innovation. e.surv is the residential property valuation market leader in the UK through its comprehensive property risk expertise and is the only provider that offers AVM, remote and physical property valuations\n· Financial Services Division market share increased, with our overall share of the UK purchase and remortgage market increasing to 11.8% (2024: 11.6%2) \n· In January 2026, the Group completed the small bolt-on acquisition of National Search Service (\"NSS\"), a leading property search company, using existing cash resources...