Revenue is up at Journeo, the Ashby-de-la-Zouch-based supplier of information systems, software and services to transport operators and local authorities.
According to a trading update for the year ended 31 December 2022, the business’s order intake increased by 50% to £27m, up from £18m in 2021, while revenue increased by 35% to £21.1m, up from £15.6m in the prior year.
Profit for the full year is anticipated to be in line with market expectations.
In January (2023), the company completed the acquisition of IGL Limited (including Infotec Limited) following the completion of a significantly over-subscribed placing and retail offer.
Russ Singleton, Chief Executive of Journeo plc, said: “I am very pleased with our achievements in 2022 where the group’s order intake, revenues and profits all increased strongly based on growing adoption of our own technology, software and IP.
“We have made good progress in our sustainability strategy, including reducing the environmental impact of our technologies such as introducing ultra-low power designs in our next generation display systems. We look forward to providing more detail in our 2022 Annual Report.
“Following the acquisition of Infotec, the enlarged group is in a stronger position with a healthy order book and a growing sales pipeline of future opportunities for 2023 and beyond based on Journeo IP.
“We continue to evaluate other acquisition opportunities and this potential, together with the on-going successful investment in research and development and organic growth, gives the Board confidence in being able to deliver increasing value to our shareholders.”
