Journeo PLC Tender Award and Trading Update
RNS Number : 3631G
26 July 2021
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
26 July 2021
("Journeo", "Company" or "the Group")
Tender award and trading update
Journeo plc (AIM: JNEO), the information systems and transport
technical services group, is pleased to provide an update on
current trading and announce that it has secured a tender valued at
GBP0.8m for real-time passenger information (RTPI) systems and
services for Aberdeenshire County Council.
The tender includes the provision of software and communications
to generate and manage timetables and a 5-year services and support
package. In addition, the tender also includes a customer option of
replacing legacy displays with Journeo's latest high-performance
systems, which, depending on the numbers involved, will have the
effect of increasing the overall value of the award.
Overall trading in H1 has been better than the same period last
year, with strong growth in sales order intake being generated as
the Group executes its strategy of developing technologies, IP and
engineering capabilities centred around customers and applications
in target market sectors.
Group revenues increased by 7% to GBP7.2m, and cash balances at
30 June 2021 remained strong at GBP1.3m (31 December 2020:
Passenger Systems revenues at GBP3.5m were broadly similar to
last year (2020: GBP3.6m), however, Fleet Systems revenues
increased by 17% to GBP3.7m (2020: GBP3.2m) with a number of new
customer wins and further adoption of Journeo's safety systems and
A further, more detailed update will be provided in the Group's
interim report in September.
Russ Singleton, Chief Executive of Journeo plc, commented: "The
Group has performed well in the first half with Passenger Systems
maintaining revenues at similar levels to last year and strong
revenue growth from Fleet Systems. Increased demand for our
cloud-based applications, which improve productivity and reduce
costs is helping to secure new and existing customers. A
strengthening order book and a growing sales pipeline of future
opportunities underpins our confidence for 2021 and beyond".
A digital copy of this announcement will be available on the
Group's website: www.journeo.com .
For further information, please contact:
Russ Singleton/ Nick Lowe +44 (0) 844 871 7990
WH Ireland - Nominated Adviser and Broker
Mike Coe +44 (0) 207 220 1666
Ariane Comstive +44 (0) 7785 922 354
Notes to editors:
Journeo plc is an information systems and technical services
business focussed on public transport and related infrastructure
within towns, cities, airports, and local authorities. The Company
works extensively with local government departments, combined
authorities, and many of the largest multinational transport
operators, supporting them as systems converge towards a more
efficient and sustainable smarter-cities future.
The business currently comprises two segments:
-- Fleet operator solutions: CCTV video surveillance to improve
passenger & driver safety, telematics for vehicle and driver
performance monitoring, real-time communications for remote
condition monitoring and automatic passenger counting.
-- Passenger transport infrastructure solutions: design,
manufacture, installation, and management of hardware and software
for electronic public transport information systems, in and around
towns, cities, ferry terminals and airports which includes
smart-ticketing and wayfinding.
In the last few years, the Company has invested around GBP5m in
research and development, enabling it to design and supply the very
best solutions for customers' complex requirements and the demands
of modern public transport. With an Internet of Things (IoT)
approach and open standards, together with field-proven and
reliable engineering, Journeo is able to offer flexible, scalable
products and services that can integrate with existing technology
while preparing for future advancements.
- Ends -
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(END) Dow Jones Newswires
July 26, 2021 02:00 ET (06:00 GMT)
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