Journeo inks £5m framework with Northern transport partnership
By Josh White
Date: Tuesday 20 Feb 2024
(Sharecast News) - Transport information and technology specialist Journeo announced a new framework agreement with a Northern transport partnership on Tuesday, after a competitive tender process.
The AIM-traded firm said the agreement, expected to generate £5m in revenue until January 2028, marked the continuation of a longstanding collaboration between Journeo and the partnership.
It said it outlined the provision and support of Journeo's advanced real-time passenger information systems within the partnership's network.
The board said the anticipated revenues were already factored into its performance expectations for the ongoing financial year, and bolstered its order book, enhancing future revenue predictability.
Under the agreement, Journeo said it would deliver its latest solutions including high-definition TfT, ultra-bright LED, and low-power e-ink displays.
Communication channels would be facilitated by open standards, linking on-street infrastructure with cloud-based content management software through the Journeo portal.
"We are delighted to continue this relationship with the partnership, installing our latest technology to enhance the passenger travel experience," said chief executive officer Russ Singleton.
"This latest agreement follows a highly successful year in 2023 of contract awards and purchase orders which together have built a strong order book.
"With each new contract we are demonstrating our innovative approach and technical expertise, which in turn is creating new opportunities and building momentum in the business."
At 1421 GMT, shares in Journeo were up 1.48% at 265.88p.
Reporting by Josh White for Sharecast.com.
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