LSL Property Services posts record 17% operating margins and an 11% profit increase, driven by robust remortgaging and lettings performance that offset broader U.K. housing market headwinds.
LSL reported higher H1 revenue, profit, and margins with record operating margin and positive outlook.
LSL Property Services reported a resilient first half, with underlying operating profit climbing 11% to £15.9 million and margins reaching a 15-year high of 17%. Despite a 4% decline in U.K. housing transactions, the group benefited from strong remortgaging activity and recurring revenue streams, prompting management to maintain a positive outlook for 2026.
Profit growth was driven by strong performance in remortgaging and lettings, alongside cost-management measures that offset salary inflation and lower residential sales volume.