AGM statement

LSL will hold its Annual General Meeting (AGM) today in London at 10:00am at The Royal Lancaster London, Lancaster Terrace, London, W2 2TY. At the AGM, LSL will make the following comments:

LSL is in good shape and has a strong platform for growth. We are benefiting from the strategic transformation work completed last year and taking advantage of improving market conditions.

In our recent Preliminary results announcement, we reported that following the positive update we issued on 6 March, trading remained ahead of expectations. We are pleased to confirm that the Group has continued to trade well, with the outlook for the full year in line and potentially slightly better than our updated expectations reported at the time of the Preliminary results announcement.

Our focus is on taking advantage of the improved market conditions and optimising the performance of our businesses, whilst keeping our eyes firmly on the need to deliver value to shareholders. We are working hard to develop our plans and we look forward to setting these out in more detail as these progress.

The current performance of the Group underlines the progress made since our last AGM. This is testament to the hard work and commitment of management and staff, and the Board thanks them for their efforts and support.

We look forward to providing a further update at our Interim results in September.

Its c.2,900 advisers represent around 11% of the total purchase and remortgage market.

Its 61 estate agency franchisees operate in 308 territories.