Purchase Orders

Journeo PLC

11 September 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.

11 September  2023

Journeo plc

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

£2.25m Passenger Information Systems Purchase Orders

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 purchase orders totalling £2.25m from Hertfordshire County Council (HCC).

These purchase orders are for the provision of Journeo's advanced real time passenger information systems and software in bus shelters and on-street at key locations throughout Hertfordshire county. Planning, design and manufacturing has already commenced and it is anticipated that the majority of the revenue will be generated by March 2024.

These purchase orders are included in management's expectations of performance for FY23 and FY24 and add to the Company's strong order book, providing future revenue visibility and reflecting the Group's strengthening market position. 

With a population of 1.2 million and over 4,200 bus stops, HCC supported the development of the Bus Back Better strategy and one of their main objectives is to significantly improve public transport services.  Journeo's  information systems and software will play a key role in supporting HCC's commitments set out in their Bus Service Improvement Plans (BSIPs"). 

Russ Singleton, Chief Executive of Journeo plc, commented, "We have been working with HCC for many years and are delighted they have chosen our latest display systems and software as we work closely with them to deliver their BSIPs. The UK Government set out clear objectives with local authorities to deliver BSIPs of which providing the accurate and up-to-date information is key to encouraging a modal shift towards the use of public transport."

Change of Name of Nominated Adviser and Broker

The Company also announces that its Nominated Adviser and Sole Broker has changed its name to Cavendish Securities plc following completion of its own corporate merger.

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]
Cavendish Securities - Nominated Adviser and Broker Katy 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.

 

END