Business
Receipt of Purchase Orders and Trading Update
Receipt of Purchase Orders and Trading Update.
About this update from Journeo Plc
[{"type":"text","content":"\n \n \n RNS Number : 8113T\n Journeo PLC\n 23 July 2020\n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (\"MAR\"). \n \n 23 July 2020\n \n Journeo plc\n \n \n (\"Journeo\" , the \"Company\" or the \"Group\")\n \n \n \n West Midlands Combined Authority (WMCA) purchase \n \n orders and trading update.\n \n \n \n \n \n Journeo plc (AIM: JNEO), the information systems and transport technical services Group, is pleased to provide an update on current trading with the Group returning to profitability despite the impact of Covid-19, as it announces new purchase orders totalling £0.8m for transport infrastructure upgrades from West Midlands Combined Authority (WMCA).\n \n \n \n \n \n WMCA Purchase orders:\n \n \n The Company has received purchase orders from WMCA under the Enhanced Infrastructure Framework Agreement, announced in July 2019, totalling £0.6m. £0.4 million is to provide the Group's latest high-definition passenger information display systems for the first of the new Sprint Bus Rapid Transit (BRT) corridors. A further £0.2 million is to supply Journeo's situational awareness systems to enhance public safety in and around a number of regional bus shelters. \n \n \n \n \n \n An additional award of £0.2m has been received to upgrade bus station passenger information systems in Coventry as it prepares for Coventry City of Culture 2021. \n \n \n \n \n \n Trading:\n \n \n Overall trading in H1 has been better than the same period last year, the Group having benefitted from its strategy to diversify its customer base by supporting national transport infrastructure plans and airport bussing. Group revenues increased by 18% to £6.8m, and cash balances at 30 June 2020 remain strong at £1.2m (31 December 2019: £0.7m). \n \n \n \n \n \n Fleet Systems revenues at £3.2m were similar to last year (2019: £3.2m) with growth held back by the shut-down of bus manufacturers in April and May and many bus, rail and coach operators temporarily scaling back services. \n \n \n \n \n \n Passenger Systems revenues increased by 41% to £3.6m (2019: £2.5m) as engineering and project teams continued to deliver transport infrastructure installations during the Covid-19 lockdown.\n \n \n \n \n \n Despite the Covid-19 challenges, t...