Thursday, February 29, 2024

Revenues leap at Journeo

Revenues have leaped at Journeo plc, the provider of information systems and technical services to transport operators and local authorities.

According to a trading update for the year to 31 December 2023, results are expected to be in-line with market expectations, with group revenues increasing by 118% to £46m, up from £21m in 2022.

Acquired businesses, Infotec and MultiQ, have performed well and contributed £21m in revenues during the year.

Adjusted profit before tax is anticipated to be in-line with market expectations.

Russ Singleton, Chief Executive of Journeo plc, which is headquartered in Ashby-de-la-Zouch, said: “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.

“We have strengthened our recurring revenue alongside our order book and pipeline, providing good forward earnings visibility and a solid base on which grow the business further.

“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.”

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