Contract Awards

RNS Number : 3826U

Journeo PLC

28 March 2023

 

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.

28 March 2023

Journeo plc

("Journeo, "Company" or "the Group")

Contract awards totalling £1.6m in Wales

Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce two contract awards totalling £1.6m for passenger information systems in Wales.

Both contracts have been received through the Smart Applications Management ("SAM") framework which is a UK-wide resource for National Governments, Local Government, Passenger Transport Executive's ("PTE's"), other Public Sector Bodies and Transport Operators to have direct access to goods and services without having to complete individual, costly and time-consuming OJEU procurement exercises.

The two contracts will see displays attached to the new Welsh Bus Data Content Management System which was recently awarded to Journeo as announced on 8 March 2023.

The first contract, valued at £1m, was awarded by the City of Cardiff for the replacement of legacy 3-line LED displays with Journeo's latest TFT LCD in-shelter displays. 

The second contract, valued at £0.6m, is for Transport for Wales ("TfW") where a variety of TFT LCD displays technology is to be installed in Cardiff's new flagship bus station.

It is anticipated that approximately £1m revenue will be recognised in this financial year, which is included in management's expectations of performance for FY2023 and, in conjunction with other recent contract wins, these new contracts support the Company's medium term growth expectations.

Russ Singleton, Chief Executive of Journeo plc commented:

"TfW and the authorities in Wales are enhancing the provision of passenger information throughout Wales to make public transport a more accessible choice. These awards follow on from TfW's recent commitment to a new country-wide Content Management System using Journeo software. I am delighted that the first displays technology that will be connected to it will also be provided by Journeo. The displays will operate on the latest open industry protocols, unlocking customers from legacy technology lock-ins."

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]
Cenkos Securities  - Nominated Adviser and Broker K aty Birkin/ Callum Davidson	[phone]

Notes to editors:

Journeo plc is a leading Intelligent Transport Systems provider, delivering solutions in towns, cities, airports and the public transport networks that connect them. The Company works extensively with local and combined authorities, Network Rail and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable future.

The business currently has three operating companies:

· Journeo Fleet Systems Ltd: 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.

· Journeo Passenger Systems Ltd: 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.

· Infotec Ltd: design, advanced manufacture, installation and software management of information displays hardware for rail applications in stations, on-platform and on-vehicle.

In the last 4 years, the Company has invested over £5 million in research and development, enabling it to design and supply powerful innovative 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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