Pinewood Technologies Secures Largest Non-Associated Dealership Contract
Why we think this is good
The RNS announcement from Pinewood Technologies Group PLC is predominantly positive, with the company securing a significant new contract with Global Auto Holdings, one of the largest global automotive companies, and delivering FY24 earnings ahead of consensus forecasts. There are no apparent headwinds, challenges, or concerning insights identified in the information provided.
Key Points
- Pinewood secures largest non-associated dealership contract with Global Auto Holdings
- Global Auto Holdings contract expected to deliver significant earnings over the lifetime of the 5-year contract
- Company expects to deliver FY24 underlying profit before tax of approximately £8.3 million, ahead of current analyst consensus forecasts of £7.8 million
- Successful rollout of Pinewood's platform with other major customers like Marshall Motor Group and Lithia Motors
Summary
Pinewood Technologies Group PLC, a leading cloud-based software provider to the automotive industry, has announced a significant new contract with Global Auto Holdings, one of the largest global automotive companies. The contract will see Pinewood's Automotive Intelligence platform implemented across Global Auto Holdings' dealership network in the UK, North America, and Scandinavia. In addition, the company expects to deliver FY24 underlying profit before tax of approximately £8.3 million, ahead of current analyst consensus forecasts of £7.8 million.