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Pinewood Maintains Profit Performance Following Lithia UK Rollout

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Pinewood Technologies Group recorded a static profit before tax performance at £8.5 million over the last 11 months as it rolled out its dealer management system (DMS) services to all Lithia UK dealerships. Operating profits dropped slightly over the same period by 1.2% down to £8.4m, while gross profits actually increased by 16.5% to £28.2m. Revenues were also boosted by 15.1% to £31.2m as a result of rolling out its cloud-based software servic…

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Motor Trader

Pinewood turns in £8.5m profit, completes DMS rollout with Lithia UK

Automotive software group Pinewood Technologies announced its financials today for the 11 months to December 2024 with underlying profits unchanged at £8.5m on turnover up 15.1% to £31.2m. The group said revenue growth was driven by completion of the Lithia UK system rollout. Pinewood now supplies 5 of top 20 UK dealership group and total users increased to 35,200, up 6.3% from 33,100 at the end of 2023. It signed a five-year contract with Const…

2 days ago

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UKTN (UK Tech News)

Pinewood upgrades guidance in first year as pure-play SaaS firm

Pinewood Technologies has upgraded its guidance after reporting revenue growth in its first year as a pure-play software group. Formerly Pendragon, the London-listed automotive retail software provider upped its guidance for underlying EBITDA for 2027 in its latest accounts from £30m to “mid to high £30 millions”, having previously raised expectations from £27m in its half-year trading update. The Birmingham-based business reported revenue gro…

2 days ago

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am-online.com

Pinewood maintains profit performance following Lithia UK rollout

Pinewood recorded a static profit before tax performance at £8.5 million over the last 11 months as it rolled out its DMS services to all Lithia UK dealerships.

2 days ago

Read Full Article