IN BRIEF: Pinewood shares jump as secures contract with Marshall Motor

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Pinewood Technologies Group PLC - Birmingham-based provider of software to the automotive retailing sector, formerly part of car dealership chain Pendragon - Marshall Motor Group will be the first ‘non-associated’ major UK dealer to use its software. The pact with the Constellation Automotive Group-owned firm is for five-years. Constellation also owns cinch, BCA and webuyanycar. ‘The contract represents the first non-associated major dealership group in the UK to adopt the Pinewood product suite following the recent successful implementation into the Litha Motors’ UK businesses (formerly Jardine Motor Group and Pendragon),’ Pinewood adds.

Pinewood Chief Executive Officer Bill Berman says: ‘Today’s announcement follows the ongoing rollout programme of our system to the UK dealerships of Lithia Motors, our strategic partner, which is progressing well and I am pleased with the progress we are making in this market. We now supply our software to four of the top-20 UK dealer groups and are confident in our pipeline of new customers in the months ahead.’

Current stock price: 330.00 pence each, up 14% on Tuesday morning in London

12-month change: down 47%

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