Agency giant LSL says its lettings service, plus its diversification into mortgages and other services, have helped it weather a subdued sales market. 

In its latest figures to shareholders, LSL – parent company of Reeds Rains and Your Move – reports group revenue increased 3% to £92.3m in the first half of 2026.

Group underlying operating profit increased 11% to £15.9m.

This helped overcome the drop in transactions – down 4% against the first half of last year, when the end of a Stamp Duty threshold affected the figures.

Chief executive Adam Castleton says: “We benefit from a diversified mix of income, including lettings, remortgaging, platform and other fees. Therefore, the majority of group income is not directly dependent on residential property transactions. 

“LSL performed well in the first half, delivering further profit and margin growth and strong cash generation. Our markets developed broadly as expected despite prevailing negative sentiment.

“We launched a Group-wide transformation programme expected to improve our structural cost-effectiveness and leverage our scale. The programme will simplify how we operate, strengthen our capabilities and support further structural improvement in margins.”

Earlier this year LSL signed its first Automated Valuation Model (AVM) contract, considered a business boost for its surveying and valuation arm, E.surv.

LSL also acquired the Huddersfield-based property search firm National Search Service (NSS).