Journeo PLC - Leicestershire, England-based transport system services provider - Reports widening expenses offsetting revenue increase. Pretax profit in the six months to June 30 flat at GBP167,000 versus GBP166,000 a year prior. Revenue grows 23% to GBP8.9 million from GBP7.2 million. However, cost of sales widen by 27% to GBP5.6 million from GBP4.4 million. Administrative expenses grow by 17% to GBP3.0 million from GBP2.6 million. Finance expenses increase by 39% to GBP117,000 from GBP84,000.
"The business has delivered strong revenue growth, is profitable and has generated its largest order intake. This performance demonstrates resilience during a period of challenging market conditions impacted by supply chain constraints and hikes in inflation," says Chief Executive Officer Russ Singleton.
Adds that results for 2022 will be in line with current market expectations. Says second half started well with GBP4 million secured in orders.
Current stock price: 117.00 pence, down 0.4% on Monday
12-month change: down 6.4%
By Tom Budszus; tombudszus@alliancenews.com
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Journeo (JNEO)