Last checked at 5 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.
05 December 2022
Journeo plc
("Journeo", "Company" or "the Group")
Passenger information systems £0.7m purchase order
Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce it has received a £0.7m purchase order for the supply and support of its advanced displays technology from a Northern Transport Partnership.
The award, made possible through the Transforming Cities Fund, will see over 100 double-sided TFT LCD displays deployed along key cross and inter-city transport corridors. The displays will be installed during the first six months of 2023 and will replace legacy signage in the area and also be deployed at new sites to provide reliable bus schedule and real time departure information and raise awareness of public transport with members of the public.
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 future revenue visibility reflecting the Group's strengthening market position.
Russ Singleton, Chief Executive of Journeo plc, commented, "This most recent order is a further demonstration of the Northern Transport Partnerships commitment to promoting public transport and encourage its adoption over personal-use vehicles. We have successfully completed a number of projects throughout the region and look forward to extending the provision of real time information displays into new transport corridors, managed through our powerful content management software."
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.