LSL Property Services, which operates the likes of Your Move and Reeds Rains, says it is in “good shape” and seeing the benefit of its strategic transformation work completed last year and taking advantage of improving market conditions.

A major reorganisation of Newcastle-based LSL Property Services saw the group franchise its network of 183 estate agent branches.

In a statement ahead of its annual general meeting, the company said it has a “strong platform for growth” and is taking advantage of “improving market conditions”.

As positive momentum continues, the business said its outlook for the full year is in line, and potentially better, than expectations.

The company said in a statement: “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.”