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LSL Property Services predicts higher 2009 results
LSL Property Services has said its full-year 2009 results will exceed previous expectations.
The company noted the higher-than-expected volume of housing transactions that took place in the final six months of 2009 were the main reason for its renewed forecasts, Reuters reports.
It noted that activity has increased when compared to the low levels that were reached in 2008, but added that challenges still face firms operating in the residential and commercial property sectors.
Revenue for the second half last year was up 21 per cent, it noted, with revenue from the estate agency aspect of its operations climbing 42 per cent in the last six months.
The company, which owns Halifax's property business, saw it shares surge on the news.
At 14:44 GMT, its stock was up 14 per cent to 285p - an increase of 35p - the news agency reports.
Its shares have rebounded after hitting a low of 49p in the last year.
The company noted the higher-than-expected volume of housing transactions that took place in the final six months of 2009 were the main reason for its renewed forecasts, Reuters reports.
It noted that activity has increased when compared to the low levels that were reached in 2008, but added that challenges still face firms operating in the residential and commercial property sectors.
Revenue for the second half last year was up 21 per cent, it noted, with revenue from the estate agency aspect of its operations climbing 42 per cent in the last six months.
The company, which owns Halifax's property business, saw it shares surge on the news.
At 14:44 GMT, its stock was up 14 per cent to 285p - an increase of 35p - the news agency reports.
Its shares have rebounded after hitting a low of 49p in the last year.
Tue, 5th Jan 2010