LSL, parent company of brands including Your Move, Reeds Rains and Marsh & Parsons, has delivered a robust performance – despite a drop of 9% in income from house sales.

The firm, giving a full-year trading update for 2018, expects its final results to be slightly ahead of its expectations and only slightly behind those of 2017.

It called this “a highly resilient performance in the context of challenging market conditions”.

Despite the drop in sales income, overall estate agency income was up 3% year on year.

This was thanks to lettings income increasing 4%, and a 17% growth in financial services revenue.

In London, Marsh & Parsons’ revenue from home sales was down 13%, but a rise in lettings income helped push overall performance to just 2% below that of 2017.

The group also reported net banking debt of £32.1m as at the end of last year, but said that it was “comfortable with the level of gearing”.

The firm said it remains cautious on the market outlook for this year, but confident that LSL remains well positioned.

Yesterday’s trading update gave no actual figures. The firm expects to issue its results for last year on March 5.

LSL shares rose yesterday by almost 3% to finish at 240.5p.