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Even a few of our detractors have now come around
I commented the other week on an RNS from LSL Property (LSL) announcing at 6.05pm on a Friday that it was pleased to announce that it had lobbed £20 million into the online hybrid estate agent Yopa Property Limited for a 17.3% equity stake. If it was that pleased, why announce it late on Friday evening when everybody has gone home? In any case, was it £20 million, or was it £15.6 million?
A “Trading Update” announcement from residential property services company, incorporating both estate agency and surveying businesses, LSL Property Services (LSL) commences that the company “expects to report strong interim results on 2nd August… delivering growth across all major revenue lines” and that “the group performed strongly in quarter one”. Good, goo… what’s that? “full year group operating profit will be significantly lower than previously anticipated”…
On the face of it coming to a stock in the area that LSL Property Services (LSL) we are not exactly ahead of the curve both on the fundamental or technical front.
I have been asked to give a technical view on LSL Property Services which has been tipped by Alpesh Patel. The fact he is richer, cleverer, better looking, has more friends and more hair than me, will not sway my analysis of the stock.
