Here is a summary of the financial report for Pinewood Technologies Group PLC for the 11-month period ended December 31, 2024
The company reported strong financial results with an 11-month comparative revenue increase of 15.1% to £31.2 million and gross profit increase of 16.5% to £28.2 million.
Underlying profit before tax remained stable at £8.5 million, meeting consensus analyst expectations.
Cash balance as of December 31, 2024, was £9.3 million, with an additional £9.9 million collected from Lithia in March 2025.
Operational highlights include the successful completion of the Lithia UK system rollout, resulting in a net increase of 1,700 users, significant new customer wins, and a 5-year contract with Marshall Motor Group.
Post-period updates include a 5-year contract with Global Auto Holdings and the acquisition of Seez App Holding Ltd., enhancing Pinewoods AI and ML capabilities.
The company maintains a positive outlook, focusing on system implementations, expanding its global presence, and preparing for the North American market entry.
The Board expects underlying profit before tax for the full year to be in line with current market expectations.