StockMarketWire.com - Conveyancing platform provider ULS Technology booked a 2.1% fall in annual profit, as Brexit uncertainty and the Covid-19 crisis weighed on the housing market.

Pre-tax profit for the year through March declined to £4.0m, down from £4.1m on-year, as revenue fell 5.7% to to £28.3m.

ULS Technology said it had seen a quicker-than-expected rebound in the housing market, with its conveyancing instructions run-rate in June up compared to June 2019.

'There is no doubting that this year was one of the most challenging to date with the housing market affected by Brexit and then Covid-19, which is still impacting market conditions,' chief executive Steve Goodall said.

'We have been focusing on positioning ourselves for when the market turns and we are delighted to see the rapid increase in ULS instructions as the market has burst back in to life in June.'


At 8:54am: [LON:ULS] ULS Technology Plc share price was +3.1p at 59.1p



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