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ULS Technology's revenue slips as Brexit uncertainty hampers housing market

Wed, 19th Jun 2019 08:16

(Sharecast News) - ULS Technology's shares dropped on Wednesday as its revenue and underlying profits fell on the back of Brexit uncertainty that kept housing transactions and prices under pressure.The company, which provides online technology platforms for the UK conveyancing and financial intermediary markets, achieved an underlying profit before tax of £5.4m for the year ended 31 March, down from £5.5m the year before.Revenue edged 2% lower to £30.0m after ULS said it encountered "significant turbulence" in the market over the past year.Total profit before tax, which included exceptional expenses, increased by 50% to £4.1m and the AIM traded company declared a final dividend of 1.20p per share, taking the total dividend up from 2.30p to 2.40p.Steve Goodall, chief executive of ULS, said: "We have a proven profitable model, which once again delivered in difficult markets and, as such, are pleased with our performance during the period. Whilst we are conscious of the challenges in the wider housing market, we remain focused on further growing our routes to market and number of individual brokers actively using our systems."For the current year, ULS remains hopeful that a Brexit outcome will be clear, adding that it is well positioned when the market picks up due to its cash generative position and an "enviable distribution network of introducers".ULS Technology's shares were down 6.37% at 75.00p at 1133 BST.
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30 Jun 2016 13:15

ULS Technology pens deal with challenger lender Belmont Green

(ShareCast News) - Provider of online platforms to the UK conveyancing and financial intermediary market, ULS Technology, announced on Thursday that it has signed a five-year agreement with challenger mortgage lender Belmont Green Finance, to provide its proprietary conveyancing comparison technolog

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30 Jun 2016 07:27

ULS Technology Signs Five-Year eConveyancer Deal With Belmont Green

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28 Jun 2016 10:10

ULS Technology Confident Despite Brexit Uncertainty In UK Housing

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21 Jun 2016 15:02

UK Earnings, Trading Statements Calendar - Next 7 Days

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2 Jun 2016 15:26

ULS Technology, John Charcol to launch new platform

(ShareCast News) - Conveyancing and financial intermediary platform provider ULS Technology celebrated the launch of a new partnership on Thursday, as independent mortgage firm John Charcol prepared to launch a new conveyancing service built on ULS products. The AIM-traded company said the new platf

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2 Jun 2016 08:00

ULS Technology Says John Charcol Launching eConveyancer-Based Service

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18 Apr 2016 07:17

ULS Technology To Beat Full Year Market Expectations On Strong Growth

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1 Apr 2016 16:24

ULS increases Legal-Eye payment

(ShareCast News) - AIM-traded conveyancing technology firm ULS agreed to a higher deferred payment for its acquisition of Legal-Eye on Friday, as a result of the runaway success it had seen from the investment. Legal-Eye was acquired by ULS in February 2015, and had continued to grow since then. It

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17 Mar 2016 10:25

ULS Technology Launches Will Writing Comparison, Introduction Service

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1 Mar 2016 15:07

ULS Technology takes chunk of HomeOwners Alliance

(ShareCast News) - ULS Technology expanded its B2C offering on Tuesday, acquiring a 35% stake in HomeOwners Alliance (HOA), and integrating its eConveyancer technology into the popular property web destination. The AIM-traded provider of online B2B platforms for the UK conveyancing and financial int

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1 Mar 2016 09:47

ULS Technology Invests GBP575,000 In HomeOwners Alliance (ALLISS)

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18 Jan 2016 17:14

DIRECTOR DEALINGS SUMMARY: ULS Non-Executive Slashes Shareholding

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18 Jan 2016 16:13

ULS Technology director sells shares to fund property investment

(ShareCast News) - ULS Technology's Nigel Hoath has cashed in £4.5m worth of shares to fund some property investment opportunities. In a statement to the market on Monday, the company revealed the non-executive director sold 10m shares at a price of 45p per share. It said he is still a "fully suppo

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18 Jan 2016 10:07

DIRECTOR DEALINGS: ULS Non-Executive Sells GBP4.5 Million In Shares

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9 Dec 2015 09:40

ULS Technology Signs Two Conveyancing Partnerships In UK

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