Journeo PLC Purchase Order (4446T)

TIDMJNEO

RNS Number : 4446T

Journeo PLC

20 March 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.

20 March 2023

Journeo plc

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

Network Rail GBP0.8m Passenger Information Systems Purchase Order

Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce that its recently acquired subsidiary, Infotec, has received a GBP0.8m purchase order from Network Rail for the manufacture and supply of passenger information displays for Leeds Station.

Leeds Station, managed by Network Rail, is the 11(th) busiest rail station in the UK and services many routes radiating in all directions from Leeds. Passengers using this large and busy station are predominantly serviced by the train operators Northern, TransPennine Express, Cross County and LNER.

Infotec's new displays will replace existing LED displays originally manufactured and supplied by Infotec in 2007 and comprise a mixture of high efficiency white LED displays and full colour TFT displays to offer passengers more comprehensive and richer information presented on modern easier to read display equipment.

The display systems are scheduled to enter production during H2 with revenue recognised this financial year included in management's expectations of performance for FY2023.

Russ Singleton, Chief Executive of Journeo plc, commented: "The Tetrus range of Network Rail approved display systems have been installed in approximately 80% of stations across the UK over the last 10-15 years and these new displays connect directly into the customer's existing platform to work alongside legacy equipment. This interoperability, in conjunction with the Group's reputation for quality, high-performance and durability is driving growth in our revenues, order book and sales pipeline."

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 
 
Cenkos Securities - Nominated Adviser and Broker 
 K aty Birkin/ Callum Davidson                      +44 (0) 207 3 97 8900

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 GBP5 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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March 20, 2023 03:00 ET (07:00 GMT)

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