REG - Journeo PLC - Purchase Orders

JourneoAnnouncement

11/09/2023 07:00

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RNS Number : 9336L  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 (http://www.journeo.com) .

 

For further information, please contact:

 Journeo plc                                           +44 (0) 203 651 9166

Russ Singleton/ Nick Lowe
 Cavendish Securities - Nominated Adviser and Broker  +44 (0) 207 220 0500

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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