LSL shares up after revenues increase

Shares of LSL Property Services were up 1.74% on Tuesday, after the company released its annual results.

Although the group posted a 19% fall in underlying operating profits from £42.9m to £34.6m, revenues were up 2% at £307.8m.

Pre-tax profits also rose to £63.5m from £38.6m in 2015. However, the annual dividend per share fell 18% to 10.3p from 12.6p a year ago.

Chris Millington, an analyst at Numis Securities rated the firm as “Buy.”

“Overall we think this is a creditable performance in the face of variable market conditions,” he said.

Meanwhile, the FTSE 100 nudged 0.15% lower to 7,338.99 points, as investors awaited key announcements in Wednesday’s Budget.

The FTSE 250 treaded 0.02% higher to 18,885.94 points.

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