Journeo PLC Purchase Order (0964D)

TIDMJNEO

RNS Number : 0964D

Journeo PLC

01 March 2022

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.

1 March 2022

Journeo plc

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

City of Edinburgh - Passenger Information Systems Purchase Order

Journeo plc (AIM: JNEO), a leading provider of information systems and technical services to transport operators and local authorities, is pleased to announce that it has received a GBP2.1 million purchase order from the City of Edinburgh to upgrade its real-time outdoor passenger display systems estate.

The purchase order includes the supply and support of over 400 optically bonded new displays as part of the second phase of a 5 year GBP4.8 million services and support contract originally announced by the Company in December 2019 and follows completion of the initial GBP0.8 million purchase order for the supply of integrated real-time passenger systems and software for Edinburgh bus station, announced on 27 January 2020.

The new displays will be installed at bus stops and bus shelters throughout the City of Edinburgh delivering multiple benefits, including higher contrast and greater readability in all light-levels with lower energy consumption, whilst providing the travelling public with more feature-rich information such as departure-specific disruption messaging.

The Company expects to deliver GBP1.2 million of the project this financial year ending 31 December 2022, paving the way for the City of Edinburgh Council to investigate potential new sites to further expand their real-time estate.

Russ Singleton, Chief Executive Officer, commented:

"The pandemic began to take hold early in 2020 shortly after we commenced the first phase of the systems, software and services contract with the City of Edinburgh. Covid-19 safety legislation and associated travel restrictions extended the original programme delivery, however our engineers and developers worked closely with the Edinburgh team throughout the pandemic and in November 2021, we successfully completed the handover of the bus station.

We are delighted to progress on to the second and much larger GBP2.1 million phase announced today where our management software will deliver travel information and public messaging to over 400 of our latest optically bonded outdoor displays, further enhancing the capabilities and performance of Edinburgh's world-class passenger information systems network".

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 plc - Nominated Adviser 
 and Broker 
 Katy Birkin/Callum Davidson                [phone] 
 

Notes to editors:

Journeo plc is an information systems and technical services business focussed on public transport and related infrastructure within towns, cities, airports, and local authorities. The Company works extensively with local government departments, combined authorities, and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable smarter-cities future.

The business currently comprises two segments:

-- Fleet operator solutions: 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.

-- Passenger infrastructure solutions: 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.

In the last 4 years, the Company has invested over GBP5 million in research and development, enabling it to design and supply powerful new 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 01, 2022 02:00 ET (07:00 GMT)