LSL Property Services Unit E.surv Wins Lloyds Bank Surveying Contract

LONDON (Alliance News) - LSL Property Services PLC said Wednesday that its surveying and ...

Alliance News 16 May, 2018 | 5:55PM
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LONDON (Alliance News) - LSL Property Services PLC said Wednesday that its surveying and valuation operation subsidiary e.surv Ltd won a contract for Lloyds Bank PLC, part of Lloyds Banking Group PLC.

Under the five-year contract e.surv will supply surveying and valuation services to the bank. The bank will transfer to e.surv all its existing surveyors and back-office employees, who are about 200.

Financial details of the deal were not disclosed.The contract is, however, "expected to enhance the group's earnings and provides a positive opportunity to leverage the LSL surveying assets to drive growth", the company explained.

Ian Crabb, LSL group chief executive officer, said: "This contract award demonstrates the market leading proposition that e.surv is able to offer its customers and reflects well on the technology investment which e.surv has made to enhance its proposition through the development of a market leading surveying IT platform."

LSL shares closed up 3.1% at 269.00 pence on Wednesday.

By Elena Cherubini; elenacherubini@alliancenews.com.

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
LSL Property Services PLC 257.00 GBX -1.91 -
Lloyds Banking Group PLC 66.47 GBX 0.67
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