Last checked at 21 Jul 2022 07:00
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
21 July 2022
Journeo plc
("Journeo", "Company" or "the Group")
Passenger information systems £0.6m purchase order
Journeo plc (AIM: JNEO) a leading provider of information systems and technical services to transport operators and local authorities is pleased to announce it has received a £0.6m purchase order for the supply and support of passenger information display systems for a City Centre bus station upgrade within a Northern Transport Partnership.
The purchase order forms part of the second tranche of the Transforming Cities Fund and includes high definition Thin-Film Transistor (TFT) and Liquid Crystal (LCD) display technologies. The displays will connect to Journeo's content management software, which will manage the upgraded bus station information systems and the other on-street real-time infrastructure previously supplied by Journeo in the £1.9m programme announced on 27 February 2020.
It is anticipated that revenue of approximately £0.4m will be delivered during this financial year from this purchase order.
This purchase order was included in management's expectations of performance for the current financial year and adds to the Company's strong order book, providing further future revenue visibility.
Russ Singleton, Chief Executive of Journeo plc, commented: "We are delighted to be working with this forward-thinking transport partnership as they build on the investments already made in our software, products and services. Our capabilities of driving multiple display technologies directly from our powerful core technology and cloud-based software provides customers with the flexibility needed to scale-up their information estates, ready to meet the commitments made in their Bus Service Improvement Plans and Enhanced Partnerships."
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 | +44 (0) 203 651 9166 |
Cenkos Securities - Nominated Adviser and Broker Katy Birkin/ Callum Davidson | +44 (0) 207 397 8900 |
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 4 years, the Company has invested over £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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