Source - LSE Regulatory
RNS Number : 6745D
Journeo PLC
20 February 2024
 

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.

20 February 2024

Journeo plc

("Journeo", or the "Company)

 

£5 million Framework Agreement

Journeo plc (AIM: JNEO), a leading provider of information systems and technical services to transport operators and local authorities is pleased to announce the award of a new Framework Agreement ("Agreement") with a Northern Transport Partnership ("Partnership"), following a competitive tender process.

The Agreement which is expected to generate £5m in revenues through to January 2028, continues a long-standing relationship with the Partnership and provides for the supply and support of Journeo's advanced real-time passenger information systems in their network.

The revenues under the Agreement are included in management's expectations of performance for the current financial year and add to the Company's strong order book, providing further future revenue visibility.

Journeo will supply its latest high-definition TfT, ultra-bright LED and low power e-ink solutions. Communications will be driven by the latest open-standards between on-street infrastructure and back-office content management software provided by the cloud-based Journeo Portal.

 

Russ Singleton, Chief Executive of Journeo plc, commented: "We are delighted to continue this relationship with the Partnership, installing our latest technology to enhance the passenger travel experience. This latest agreement follows a highly successful year in 2023 of contract awards and purchase orders which together have built a strong order book. With each new contract we are demonstrating our innovative approach and technical expertise, which in turn is creating new opportunities and building momentum in the business."

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

+44 (0) 203 651 9166

Cavendish Capital Markets Limited - Nominated Adviser and Broker
Katy Birkin/ Callum Davidson

+44 (0) 207 220 0500



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 has five operating companies:

·    Journeo Fleet Systems: 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: 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: design, advanced manufacture, installation and software management of information displays hardware for rail applications in stations, on-platform and on-vehicle.

·    MultiQ (based in Aarhus, Denmark): full-service provider of Intelligent Transport Systems ("ITS") with customers in Denmark, Sweden and Iceland.

·    Journeo AB (based in Stockholm, Sweden): technical services provider to public transport customers in Sweden.

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGRUKSBRSOUUAAR
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Journeo PLC (JNEO)

-6.00p (-2.27%)
delayed 13:50PM