LSL Property Services starts new buyback amid positive start to 2026

LSL Property Services PLC on Tuesday announced a new £12 million share buyback as it reported 2025 trading in line with expectations.

The Newcastle-upon-Tyne, England-based provider of services to mortgage intermediaries and franchised estate agencies said revenue rose 5.7% in 2025 to £183 million from £173.2 million in 2024.

Underlying operating profit is expected to increase by over 15% from £27.7 million the prior year, with second half profit up by around 30%.

Underlying operating margin increased to a record high of 18% from 16% in 2024, while net cash ticked up to £27.8 million from £22.0 million at June 30.

LSL said all three divisions delivered improved underlying operating profit while central costs were reduced year-on-year.

‘Against 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,’ the firm added.

Looking ahead, LSL said 2026 has seen a ‘positive’ start to trading, with the refinancing tailwind seen in the second half of 2025 continuing into the new year, supporting both its Financial Services and S&V divisions.

‘Overall, the board expects another year of profit growth in 2026 and ongoing strong cash conversion,’ it added.

The firm expects the £12 million buyback to be completed by January 26, 2027.

Shares in LSL Property Services jumped 6.9% to 269.35 pence each in London on Tuesday.

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