Journeo PLC on Monday reflected positively on the year just gone, telling investors that it anticipates reporting earnings in line with expectations.
For 2023, the Leicestershire-based transport system services provider expects to report group revenue of £46 million, more than doubled from £21 million a year prior.
It noted ‘continued momentum’ in both Fleet Systems and Passenger Systems, which together delivered organic growth of 20% in revenue to £25 million from £21 million the year before. Order intake is expected to be £30 million, up 11% from £27 million.
Adjusted pretax profit is expected to be ‘in-line’ with market expectations.
‘I am very pleased with the progress we made in 2023, both organically and through two acquisitions. These developments are fuelling our strategy to broaden our customer base, extend our geographic reach, deepen our capabilities and provide us with access to thematically linked adjacent markets,’ said Chief Executive Russ Singleton.
‘Together with significantly improved cash balances, we are investing in our people and technologies to develop innovative products and services that meet our customer requirements, as well as anticipating the future needs of the public transport sector. With a strong sense of momentum and an increasingly compelling customer offering, we look forward to further organic and acquisitive growth.’
Journeo shares were trading 6.4% higher at 265.00 pence each in London on Monday morning.
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