Pinewood Technologies PLC

PINE

Equity

ISIN GB00BSB7BS06 / Valor 134329041

LSE London Stock Exchange, SETS (2024-12-23)

GBP 3.42-1.16%

Pinewood Technologies PLC
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Pinewood Technologies PLC, headquartered in Annesley, Nottingham, and listed on the London Stock Exchange under the ticker PINE, specializes in providing software-as-a-service (SaaS) solutions tailored for the automotive dealership sector. Originating from the vehicle division of Williams Holdings, which was demerged as Pendragon PLC in November 1989, Pinewood has evolved significantly since its inception. Under the leadership of Sir Nigel Rudd until April 2010, the company expanded its operations to include volume car franchises, including notable brands such as Ford and Vauxhall, in 1990. This expansion set the stage for a series of strategic acquisitions aimed at bolstering its market presence, including the acquisition of the Stratstone brand in 1992, which linked Pendragon with luxury automotive brands Jaguar and Land Rover. Further expanding its footprint, Pinewood acquired 17 volume car dealerships from Lex Service PLC in August 1997, marking a significant growth phase for the company. Today, Pinewood Technologies stands as a key player in the automotive retail sector, offering a range of SaaS products designed to enhance the operational efficiency of car dealerships.

Summarized from source with an LLMView SourceSector: Consumer Services

Revenue Growth

Pinewood Technologies PLC reported a significant increase in revenue for the 13-month period ending January 31, 2024. The statutory revenue rose by 28.3% to £24.5 million, compared to £19.1 million in the previous year. This growth was driven by inflation-linked price increases and a rise in international users.

Profit Before Tax

For the same period, Pinewood Technologies PLC's profit before tax from continuing operations increased by 28.6% to £9.9 million, up from £7.7 million in the previous year. This improvement reflects the company's successful transformation into a pure-play Software-as-a-Service (SaaS) group.

Discontinued Operations

The company completed the sale of its UK Motor and Leasing segments to Lithia Motors, Inc. for £377.5 million. The revenue from these discontinued operations was £4,318.0 million, with an operating profit of £147.6 million, including a profit on disposal of £40.7 million.

Special Dividend

Pinewood Technologies PLC announced a special dividend of 24.5p per share, to be paid on May 7, 2024. This decision follows the successful sale of the UK Motor and Leasing divisions and reflects the company's commitment to returning capital to shareholders.

Outlook

Looking ahead, Pinewood Technologies PLC remains optimistic about its growth prospects for FY24. Despite challenging macroeconomic conditions, particularly in the UK, the company expects to meet market expectations, supported by a strong order bank and ongoing international expansion efforts.

Summarized from source with an LLMView Source

Key figures

%1Y

%3Y

%5Y

Performance

36.7%1Y

36.7%3Y

36.7%5Y

Volatility