Last checked at 23 Dec 2022 07:00
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.
23 December 2022
Journeo plc
("Journeo, "Company" or "the Group")
£0.5m Purchase Order for Bus Service Improvement
Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce a £0.5m purchase order from a Northern Transport Partnership for Passenger Information infrastructure to improve bus services in the region.
This order is for a range of Journeo' products and technologies, including LED displays, TFT displays and interactive journey planning equipment. The systems will be installed along strategically important transport corridors throughout the region with the aim of ensuring that the right level of information is provided for each specific location.
This purchase order was included in management's expectations of performance for FY 2023 and adds to the Company's strong order book, providing future revenue visibility reflecting the Group's strengthening market position.
Russ Singleton, Chief Executive of Journeo plc, commented, "We have been working with the constituent members of this transport partnership for many years, supporting them through their transforming cities objectives and we are naturally delighted to continue the relationship as they look to deliver on their Bus Service Improvement Plans (BSIPs).The Government set out clear objectives when asking local authorities to deliver BSIPs and the provision of the right information, at the right location, is key to encouraging people away from personal-use vehicles and on to public transport."
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 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.