Reported in a trading update, the AIM-listed provider of online B2B platforms for the UK conveyancing and financial intermediary markets confirmed the appointment ahead of its interim results for the six months to 30 September 2015.
Thompson, who joined the group in November 2014, has been managing the day to day activities of the business for the last year after leaving his role as director of banks and affinities at Legal & General.
Thompson told Mortgage Solutions its proposition, which offers both a factory and a panel management service, which encourages its solicitors to compete on price, is having success with both models.
“We work with our solicitor firms more as partners, many of whom have aspirations to grow,” he added.
The group confirmed strong trading in H1, with revenue expected to be approximately £9.75m and underlying profit before tax of approximately £1.84m.
This represents year-on-year revenue and underlying operating profit growth of 18% and 35% respectively. The acquisition of legal compliance firm Legal Eye in February this year has contributed to this growth.
The firm, which launched estate agent performance comparison site Estateagent4Me in the Summer, said market conditions in the first half of the financial year were fairly buoyant, but market activity has subsequently fallen.
The Board believes an increase in interest rates would stimulate remortgage volumes and be positive for the Group.
Thompson, chief executive of ULS Technology plc, said: “I am pleased with the progress we have shown to date this year, in market conditions that have been steady.”
He added: “I’d like to express huge gratitude to Nigel Hoath and thank him for an exceptional handover.”
