LSL is transformed into a simpler B2B services group, with healthy drop-through margins and high cashflow conversion. Over the last two years, LSL has sold its B2C advisory firms to its joint venture (Pivotal Growth) and converted its Estate Agency division into franchised ownership. LSL is now a capital light platform, with strong balance sheet, low maintenance capex, and strong dividend record with wide range of opportunities for reinvestment. These features combined with an attractive valuati ....
