StockMarketWire.com - Conveyancing platform provider ULS Technology reported a 3% rise in first-half profit as it focused on higher-margin customers.

Pre-tax profit for the six months through September increased to £2.4m, up from £2.3m on-year.

Revenue fell 8% to £14.6m, which the company said was expected, though its gross margin improved to 43.9%, up from 41.8%.

Underlying pre-tax profit fell 4% to £2.8.

ULS Technology declared an interim dividend of 1.25p per share, up 4% on-year.

'Over the past 12 months, and in line with the company's growth strategy, our customer base has evolved towards higher-margin introducers,' chief executive Steve Goodall said.

'As such the loss of certain high-volume low-margin accounts has been partially offset by winning, retaining and growing more medium-sized accounts which are already delivering results and will help drive near-term growth.'



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