ULS Technology narrows interim pre-tax losses

Online digital platform operator ULS Technology said on Wednesday that interim pre-tax losses were lower than expected as revenues from continuing operations increased year-on-year.

ULS stated revenue from continuing operations during the six months ended 30 September came to £10.2m, an increase of around 45% over the Covid-impacted prior year.

As a result, underlying pre-tax losses for the period were lower than expected at approximately £1.5m, while net cash remained high at approximately £23.0m, with no debt.

Chief executive Jesper With-Fogstrup said: "I am now even more certain that there is considerable opportunity to make the home moving process better for everyone, and we have the strategy and roadmap in place to be able to achieve this.

"We are currently at an exciting stage where we are building and testing a number of products that we will be looking to launch into the market in 2022."

As of 1245 BST, ULS shares were up 5.13% at 73.80p.