REG - Journeo PLC - Contract Win

JourneoAnnouncement

31/03/2023 07:00

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RNS Number : 8562U  Journeo PLC  31 March 2023

The information contained within this announcement is deemed by the Company to
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time.

31 March 2023

Journeo plc

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

£0.6m Software and Services upgrade for CrossCountry Rail

Journeo plc (AIM: JNEO), the information systems and transport technical
services group, is pleased to announce a £0.6m contract with CrossCountry
Rail to upgrade legacy forward facing camera ("FFCCTV") systems and provide
three-years' support and licencing for its advanced Journeo Portal software.

 

The legacy systems were installed by Journeo in 2012, and under the new
contract, 58 Voyager trains and 29 Turbostar trains, each with FFCCTV systems
at both ends of the trains, are to be upgraded.

CrossCountry is a Train Operating Company with 139 trains owned by the Arriva
Group. It has the most extensive rail network franchise in the UK covering
around 1,400 miles and calls at over one hundred stations, stretching from
Aberdeen to Penzance, and from Stansted to Cardiff and provides express and
long-distance rail services between many major towns and cities outside
London.

The upgraded camera systems and advanced Journeo Portal software will provide
CrossCountry, Network Rail and the British Transport Police with direct access
to view the FFCCTV for fast incident management.

It is anticipated that approximately £0.3m revenue will be recognised this
financial year and this contract in conjunction with other recent wins,
supports the Company's medium term growth expectations.

 

Russ Singleton, Chief Executive of Journeo plc, commented: "We are delighted
to be awarded this contract to upgrade the FFCCTV systems that have been
working for over 10-years with new, higher performance systems. The Journeo
Portal incorporates powerful AI and machine learning principles to connect
multiple manufacturers' on-train equipment and sensors to enable legacy and
new systems to be monitored and maintained through our secure and powerful
software application."

 

A digital copy of this announcement will be available on the Group's website:
www.journeo.com (http://www.journeo.com) .

For further information, please contact:

 Journeo plc                                          +44 (0) 203 651 9166

 Russ Singleton/ Nick Lowe

 Cenkos Securities - Nominated Adviser and Broker     +44 (0) 207 397 8900

 Katy Birkin/ Callum Davidson

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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