Accounting Reference Date Change

Pinewood Technologies Group PLC

04 March 2024

 

4 March 2024

Pinewood Technologies Group PLC (the "Company")

Accounting Reference Date Change

On 1 February 2024, the Company announced a change to its accounting reference date to 31 January from 31 December. This was to align the accounting reference date to the completion of the disposal of the UK Motor and Leasing divisions to Lithia Motors, Inc.

Following the publication of the Company's audited accounts for the 13 months to 31 January 2024, the Company intends to return to a 31 December accounting reference date. Accordingly, its current accounting period, which commenced on 1 February 2024, will now end on 31 December 2024.

As a result, the Company's updated financial calendar will now be as follows:

·    Publication of audited accounts for the 13 months to 31 January 2024, by 30 May 2024

·    Publication of unaudited interim accounts for the 6 months to 31 July 2024, by 31 October 2024

·    Publication of audited accounts for the 11 months to 31 December 2024, by 30 April 2025

·    Publication of unaudited interim accounts for the 6 months to 30 June 2025, by 30 September 2025

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For further enquiries please contact:

Headland
Henry Wallers	Tel: [phone]
Jack Gault	Tel: [phone]

About Pinewood Technologies Group PLC

First established in 1981, Pinewood Technologies Group PLC (Pinewood) is a leading provider of Dealer Management System (DMS) software and services to automotive retailers.  Pinewood's DMS is a market-leading solution, which has been developed collaboratively with dealers and OEMs to provide secure cloud-based software across sales, aftersales, accounting and CRM.  Headquartered in the UK, Pinewood has a team of over 200 people serving over 30,000 global users and long-standing partnerships with over 50 OEM brands.

Previously part of Pendragon PLC, in 2024 Pinewood became an independent entity following the sale of Pendragon's UK Motor and Leasing divisions to Lithia Motors Inc, one of the largest automotive retailers in North America.  Pinewood simultaneously signed a strategic partnership with Lithia to roll out its software across Lithia's UK locations and form a joint venture to co-develop capabilities and accelerate Pinewood's entry into the North American market.

 

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