LSL Property Services saw pre-tax profit jump 85% to £13.8m in the first half of the year, compared to 12 months earlier, with the group adding it is “well positioned to capitalise from any further improvement in the housing and mortgage markets”.

The listed group — which includes the PRIMUS and TMA networks, e.surv and Your Move estate agents — said its key firms “achieved strong market share” in the six months to the end of June.

Group revenue lifted 18% to £85.4m in the period, the business said in a stock market statement.

The company said its financial services network, which includes its broker firms, “traded resiliently in soft market conditions” posting an underlying operating profit up 13.2% to £4.3m.

It adds that the number of network firms lifted to 16.3% to 1,146, including 151 TenetLime firms, after LSL agreed to buy the business from Tenet Group last August for up to £12.9m.

The group says that “network firms remained cautious on adviser levels due to challenging market conditions”, however, advisers rose 4.7% to 2,847, including 255 TenetLime advisers.

The financial services division increased its market share of the UK purchase and remortgage market to 11.1% from 10.5% over the period.

Product transfer mortgage completions jumped by 20%, lifting its share of the product transfer market to 7.2% from 5.8%.

LSL Property Services group chief executive David Stewart said: “Following a period of significant strategic transformation, we have delivered a robust financial performance in the first half of 2024 during a period in which our end markets have been fairly muted.

“Each of our businesses has achieved strong market share whilst focusing on delivering against our strategic priorities and putting in place a solid platform for future growth.”