28th Jun 2016 10:10
LONDON (Alliance News) - ULS Technology PLC on Tuesday expressed confidence it can continue to grow regardless of the general backdrop, although it said uncertainty in the UK housing market will continue following the vote to leave the European Union.
The conveyancing and financial intermediary technology company proposed a final dividend of 0.26 pence, taking its annual dividend to 2.10p, up from 1.34 pence the year before.
For the financial year to end-March, ULS reported pretax profit of GBP3.1 million, up from GBP1.5 million the year before, as revenue rose to GBP20.7 million from GBP16.2 million.
ULS said it enters the new financial year with an "unclear" outlook for the UK housing market. It expects the uncertainty it saw in the run up to the EU referendum to continue now that a Brexit has been confirmed.
As such, it expects volumes in the UK housing market to be hit, but said the extend of this hit was "unclear at this early stage".
"The fall-out from last week's referendum result is yet to be fully seen, particularly its impact on the UK housing market. However, we will continue our strategy of investment and believe that we are in a strong position to grow relative to the general market," said Chief Executive Ben Thompson in a statement.
Shares in ULS Technology were up 2.4% at 63.50 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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