LONDON (Alliance News) - ULS Technology PLC on Monday said it prepares to launch its new DigitalMove platform following a significant growth in profit in the first half of its current financial year.
The home-moving online platform provider said pretax profit almost quadrupled to GBP2.3 million in the six months to September 30 from GBP626,000 reported for the same period a year ago, as administrative costs reduced to GBP323,000 from GBP1.8 million.
Revenue improved slightly to GBP15.8 million from GBP15.3 million year-on-year.
ULS Technology increased its interim payout by 4% to 1.20 pence a share.
Looking forward, the company said it plans to launch a customer-focussed online platform DigitalMove in January next year. The platform will enable its users to communicate with their conveyancer in a user-friendly, digital environment which is safe and secure with the potential to take weeks off the house-moving process.
"We are pleased with our performance in the first half of the year especially given the wider economic environment," said Chief Executive Steve Goodall.
"We also increased our sales resource during the period and have concentrated both on increasing the number of advisers who use our systems and how often they use them. We will continue to focus in this area over the coming months and expect these efforts to continue to deliver new contract wins," added Goodall.
ULS Technology shares were trading flat on Monday at 77.40 pence each.
