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LSL Property Services sees shares jump as strong earnings projected

The firm said underlying profit for the full year 2017 "will be materially ahead of its prior expectations, with a more equal weighting between the first and second half compared to prior years"
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In reaction, in mid-morning trading, LSL Property shares were up 25p at 251.75p, an 11% increase

LSL Property Services PLC (LON:LSL) shares rose sharply today after the group said earnings in the first half are expected to be strong, beating the expectations of its board.

In a trading update, the residential property services company added that underlying profit for the full year 2017 "will be materially ahead of its prior expectations, with a more equal weighting between the first and second half compared to prior years."

In reaction, in mid-morning trading, LSL Property shares were up 25p at 251.75p, an 11% increase.

The FTSE Small Cap firm said its interim results, due for release on 1 August, are seen showing the estate agency division performing ahead of expectations and delivering strong growth in lettings and financial services income alongside a strong performance from its surveying division.

The results for the first half 2017 have also benefited from a small number of non-recurring items in comparison to the same period in 2016, LSL Property added.

 

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