FINANCE: LSL Property Services has announced pretax profits of £31.9m for the year ending 31 December 2014, up by 87% from the £17.1m reported last year.
The company achieved a record underlying profit of £42m and group revenue was up by 11% for the same period, reaching £287.5m.
During the year the company invested in Zoopla, a shareholding valued at £21.3m, the report states.
Simon Embley, chairman of LSL, said: “I am very pleased to report that 2014 was a record year for the group with underlying operating profit higher than LSL achieved in the property market peak of 2007.”
LSL carries out residential sales, lettings, surveying, conveyancing and advice on mortgages and non-investment insurance products.
