Pinewood Technologies, formerly known as Pendragon, has actually reported a double-digit enter revenue as the group remains to broaden its international procedures.
The London- noted auto technology company today announced in its half year update that revenue was up 12.4 percent to ₤ 14.5 m, contrasted to ₤ 12.9 m the year prior.
Revenue was ₤ 16.1 m, up 11 percent from ₤ 14.5 m in 2023, with the company stating it “made good progress” in the development of its consumer base.
Pinewood Technologies formerly became part of a sophisticated membership contract with Seez, understood for its auto AI technology, to boost its United States development.
Chief exec Bill Berman stated: “Pinewood had a fantastic very first fifty percent of the year, with remarkable double-digit development in income and gross revenue.
“During the period we have prioritised rolling out our system to the UK dealerships of our strategic partner Lithia Motors which has been very successful.”
In September in 2015, vehicle dealer team Pendragon agreed to a proposed sale of its UK electric motor service to United States supplier titan Lithia Motors for ₤ 250m, sending out shares skyrocketing.
Shareholders approved the deal the adhering to month. The company stays noted on the London Stock Exchange yet transformed its name to Pinewood Technologies.
The employer stated the company is “well” placed to load the void in the “fragmented” international market for supplier administration software application, including its UK, Northern Europe, Asia Pacific and North America markets.
“To support these ambitions, we continue to invest in our platform to add new features to ensure it remains a highly secure best-in-class automotive retail ecosystem,” Berman included.
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