StockMarketWire.com - Conveyancing and financial intermediary market support group ULS Technology booked a fall in underlying profits, citing Brexit uncertainty for hurting confidence in the housing market.

Pre-tax profit for the year through March rose 50% to £4.1m, up from £2.7m on-year.

However, when one-off gains were stripped out, profit fell to £5.4m, down from £5.5m.

Revenue fell to £30.0m down from £30.7m.

ULS Technology declared a final dividend of 1.20p per share, taking the total for the year to 2.40p, up from 2.30p on-year.

'We have a proven profitable model, which once again delivered in difficult markets and, as such, are pleased with our performance during the period,' chief executive Steve Goodall said.

'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.'

'To that end, our continued focus on innovation and technology means that we are well placed to strengthen our position and further develop high margin routes to market.'



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