Pinewood H1 profits fall ahead of Ridgeview takeover

(Sharecast News) - Cloud software firm Pinewood Technologies said it still expected full-year earnings to be broadly in line with 2025 as it posted a fall in interim profits. The automotive software firm, about to be taken private in a £545m deal by US private equity firm Ridgeview Partners, reported a 13% fall in underlying pre-tax profit to £3.8m due to higher administrative expenses and investment in its North American expansion.

The board said it remains confident in the Group's prospects and expects FY26 underlying EBITDA to be in line with previous expectations, reaffirming its target of £21m for the year.

It also reiterated guidance for underlying EBITDA of £62m by FY28, supported by strong visibility from signed contracts and a substantial pipeline of opportunities.

Reporting by Frank Prenesti for Sharecast.com