LSL has announced the start of a share buyback programme for a tranche of up to £7m.

The programme will be run by Numis Securities Ltd, part of Deutsche Bank AG, and will run to the end of April 2025 at the latest. LSL Property Services last week released its 2023 results, showing a swing to pretax profit, despite a 34% decline in revenue, due to lower exceptional costs.

Current stock price: 301.00 pence.

Companies typically buy back their own shares to keep up or further boost the share price, by reducing the number of shares in circulation; this approach is also sometimes undertaken to reduce the total number of shareholders in a company, or to use uninvested cash held by the company.

During a buy-back, the company pays participating shareholders the market value per share.

Meanwhile, LSL Property Services plc has published its Annual Report and Accounts 2023 and Living Responsibly Report 2024

Copies of the following documents have been published and are available to view on the LSL website:

·    Annual Report & Accounts 2023

·    Annual Report & Accounts 2023 ESEF Tagged Version

·      The Living Responsibly Report 2024

All of the above listed documents will be submitted to the National Storage Mechanism and will shortly be available for inspection at: data.fca.org.uk/#/nsm/nationalstoragemechanism.