Tender Award and Trading Update

RNS Number : 3631G

Journeo PLC

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 plc

("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 £0.8m 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.

Trading:

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 £7.2m, and cash balances at 30 June 2021 remained strong at £1.3m (31 December 2020: £1.2m).

Passenger Systems revenues at £3.5m were broadly similar to last year (2020: £3.6m), however, Fleet Systems revenues increased by 17% to £3.7m (2020: £3.2m) with a number of new customer wins and further adoption of Journeo's safety systems and software-based services. 

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:

Journeo plc Russ Singleton/ Nick Lowe	[phone]
WH Ireland - Nominated Adviser and Broker Mike Coe	[phone]
Communications Portfolio Ariane Comstive	[phone]

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 £5m 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.

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