Tuesday, April 23, 2024

Revenue and profit soar at Journeo

Journeo plc, the Ashby-de-la-Zouch-based information systems and transport technical services group, has seen revenue and profit soar.

According to final results for the year ended 31 December 2023, revenue increased 118% to £46.1m, up from £21.1m in 2022.

Profit before tax, meanwhile, increased 312% to £3.7m, up from £0.9m in 2022.

Russ Singleton, CEO of Journeo plc, said: “I am very pleased with the progress we have made towards reaching our goal of becoming a market leader in our field. Our strengthening intellectual property and increased barriers to entry into our markets are helping us establish defendable market positions.

“Each year, we are growing our recurring revenue base as well as our sales order book, providing us with greater forward earnings visibility. Together with healthy cash balances, we are able to invest further in our technologies and business.

“The acquisitions of Infotec and MultiQ have performed well since joining the Group, extending our capabilities and geographic reach. We continue to seek out complementary acquisitions that can provide Journeo with access to adjacent markets or increase the services we deliver into our current markets.

“As we entered 2024, we did so with momentum in our strategy, which is enabling us to deliver valuable products, software, and services for our customers. Our strong order book, growing sales pipeline, and increasing leadership positions give us confidence in our ability to further grow the business.”

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