North East estate agency business LSL Property Services has warned profits may not reach last year's levels, citing inflationary pressures and slower-than-anticipated deal completions.
The Newcastle business – owner of E.surv Chartered Surveyors, Your Move and Reeds Rains – updated shareholders on its performance ahead of its AGM, saying a strong market had driven group revenues to £104.5m in the first four months of 2022.
It said that, over that period, its purchase and re-mortgage lending rose 9% to top £10bn, and it also saw 5% revenue growth in the financial services network business, which it said was a solid performance in a smaller market.
