Damindu Jayaweera
Analyst at Bill Hunt
Replay available
Pinewood Technologies Group PLC (PINE) Q2 2024 Earnings Call
Pinewood Technologies Group PLC (LSE: PINE) Q2 2024 earnings conference call, held 2024-10-02. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
Bill Berman
Chief Executive Officer
Olly Mann
Group Chief Financial Officer
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Pinewood Technologies Group Plc.
Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:05.978 Good morning everyone and welcome to the Pinewood H1 FY24 results presentation. 00:00:05.978 -- 00:00:11.045 I'm Bill Berman and with me today is the group CFO and my partner, Olly Mann. 00:00:11.045 -- 00:00:15.631 I will begin with a short summary and a reminder of the Pinewood business model. 00:00:15.631 -- 00:00:19.696 Olly will then take you through the financials for the first half of FY24 00:00:19.696 -- 00:00:23.901 before I run through an operational review and strategic summary. 00:00:23.901 -- 00:00:28.244 If there are any questions, we'll be happy to take these at the end of the presentation. 00:00:28.364 -- 00:00:33.711 In the first half of FY24, we had a great start as a standalone SaaS business, achieving 00:00:33.711 -- 00:00:37.276 double-digit growth in both revenue and gross profit. 00:00:37.276 -- 00:00:40.961 The priority for us in the first six-month period has been the system rollout in the 00:00:40.961 -- 00:00:44.585 XJardine Motor Group, Lithia UK stores. 00:00:44.585 -- 00:00:48.410 Based on our customer feedback, we are happy that these have been best-in-class system 00:00:48.410 -- 00:00:53.057 implementations. Our teams have really excelled and gone the extra mile trying to make 00:00:53.057 -- 00:00:58.503 the implementations at every Lithia dealer a seamless and positive experience. 00:00:58.503 -- 00:01:01.948 We expect to conclude the rollout to Lithia UK stores in December of 2024. 00:01:01.948 -- 00:01:06.956 We are keen to expand our market penetration throughout the rest of the UK market. 00:01:06.956 -- 00:01:11.503 And as a result of this, we have restructured our UK sales teams to allow us to maximize 00:01:11.503 -- 00:01:15.368 our UK market penetration in the short and medium term. 00:01...