Purchase Order
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.
10 March 2023
Journeo plc
("Journeo, "Company" or "the Group")
Network Rail £0.7m Customer Information Systems Purchase Order
Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce its subsidiary, Infotec, has received a £0.7m purchase order from Network Rail for the supply of customer information displays for stations operated by Southeastern Trains ("SE Trains") throughout the Kent region.
The display systems are scheduled to enter production over the next few months with the majority of the £0.7m revenue recognised this financial year and are included in management's expectations of performance for FY2023.
SE Trains serves the main London stations of Charing Cross , Waterloo East , Cannon Street , London Bridge , St Pancras , Victoria and Blackfriars . The network has route mileage of 540 miles with 180 stations, 164 of which it manages.
The purchase order is part of a £5m framework agreement secured in 2022 to replace display systems originally supplied by Infotec over the last 10 to 15 years, with the latest high efficiency LED and TFT units (the "Framework Agreement"). As well as stations in Kent, the Framework Agreement covers replacements at rail stations in Sussex (Southern Railways) and Wessex (South West Trains), for which purchase orders have already been received.
Russ Singleton, Chief Executive of Journeo plc, commented:
"I am delighted to be making this first announcement related to Infotec since they became part of the Journeo Group in January this year, following a successful placing and acquisition. Infotec's Network Rail approved display systems are designed and manufactured in their Leicestershire factory to meet or exceed stringent reliability and performance criteria and comply with UK Rail standards. Infotec has a great reputation for quality, a substantial order book and sales pipeline, and an offering of specialist rail market products, services and software capabilities now encompassed within our Group".
A digital copy of this announcement will be available on the Group's website: www.journeo.com .
For further information, please contact:
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Journeo plc Russ Singleton/ Nick Lowe |
+44 (0) 203 651 9166 |
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Cenkos Securities - Nominated Adviser and Broker K aty Birkin/ Callum Davidson |
+44 (0) 207 3 97 8900 |
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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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