Journeo PLC Contract Win (8562U)

TIDMJNEO

RNS Number : 8562U

Journeo PLC

31 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.

31 March 2023

Journeo plc

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

GBP0.6m Software and Services upgrade for CrossCountry Rail

Journeo plc (AIM: JNEO), the information systems and transport technical services group, is pleased to announce a GBP0.6m contract with CrossCountry Rail to upgrade legacy forward facing camera ("FFCCTV") systems and provide three-years' support and licencing for its advanced Journeo Portal software.

The legacy systems were installed by Journeo in 2012, and under the new contract, 58 Voyager trains and 29 Turbostar trains, each with FFCCTV systems at both ends of the trains, are to be upgraded.

CrossCountry is a Train Operating Company with 139 trains owned by the Arriva Group. It has the most extensive rail network franchise in the UK covering around 1,400 miles and calls at over one hundred stations, stretching from Aberdeen to Penzance, and from Stansted to Cardiff and provides express and long-distance rail services between many major towns and cities outside London.

The upgraded camera systems and advanced Journeo Portal software will provide CrossCountry, Network Rail and the British Transport Police with direct access to view the FFCCTV for fast incident management.

It is anticipated that approximately GBP0.3m revenue will be recognised this financial year and this contract in conjunction with other recent wins, supports the Company's medium term growth expectations.

Russ Singleton, Chief Executive of Journeo plc, commented: "We are delighted to be awarded this contract to upgrade the FFCCTV systems that have been working for over 10-years with new, higher performance systems. The Journeo Portal incorporates powerful AI and machine learning principles to connect multiple manufacturers' on-train equipment and sensors to enable legacy and new systems to be monitored and maintained through our secure and powerful software application."

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                          [phone] 
 
Cenkos Securities - Nominated Adviser and Broker 
 K aty Birkin/ Callum Davidson                      [phone] 
 
 
 

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 31, 2023 02:00 ET (06:00 GMT)