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ULS Technology 1H Pretax Loss Widened; Revenue Rose

Posted by Michael Susan

 

ULS Technology PLC announced on Thursday that its pre-tax loss for the first half of fiscal 2022 had widened significantly, although sales increased due to higher demand.

The London-listed technology company recorded a pre-tax loss of £ 1.6 million (US $ 2.1 million) for the six months ended September 30, compared to a loss of £ 702,000 the previous year.

Revenue from continuing operations rose from £ 6.9 million to £ 10.2 million, boosted by first-time buyers due to the impact of lockdowns and home working, the company said.

“While we are aware of ongoing developments in the UK’s response to the Covid pandemic, the return to more normal business practices and face-to-face interaction offers our sales teams a greater opportunity to engage and influence our partners. The board of directors sees the coming year with confidence and optimism, “said CEO Jesper With-Fogstrup.

No dividend was resolved for the reporting period.

 

Write to Michael Susin at michael.susin@wsj.com