Group revenue in 2011 increased by 6% to £218.4m, up from £206.6m in 2010.
Pre-tax profits for LSL include a net exceptional cost of £2.4m arising from the acquisition of Marsh & Parsons estate agents in November 2011.
Total gross mortgage lending arranged through its financial services network in 2011 was £6.8bn compared to £2.6bn in 2010.
Income from LSL’s financial services division increased by 49% in 2011 to £27.6m, compared with £18.6m in 2010.
LSL reported a net reduction in the provision for inaccurate valuations to £9.6m from £10.9m in 2010 as a result of new and possible expected claims being offset by the settlement of a number of existing claims.
The company also reported that its surveying arm e.surv Chartered Surveyors successfully renewed its contract to provide surveying and valuations services to Barclays for a 30-month term commencing 1 January 2010.
Roger Matthews, chairman of LSL, said: “In a market where transaction levels remained exceptionally low, 2011 was a year of investment for the future and one of strong progress for the group.
“We will continue to focus on growing market share and profitability in estate agency and on the retention of key lender clients for surveying and valuation services.
“The group is extremely cash generative and has a strong balance sheet. We will retain a prudent approach to leverage, which will place a premium on delivery of organic growth but with a scope for further acquisitions.
“The group is well placed to increase shareholder value through the execution of this strategy.”
