Journeo PLC on Monday said it received purchase orders for an aggregate £2.3 million from Hertfordshire County Council in England.
The Leicestershire-based transport system services provider said the orders were for the provision of its real-time passenger information systems and software in bus shelters and on-street at ‘key’ locations throughout Hertfordshire.
Journeo said planning, design and manufacturing has already begun and it is anticipated that the majority of the revenue will be generated by March 2024.
These purchase orders are included in management’s expectations of performance for financial 2023 and financial 2024, Journeo said, and add to its ‘strong’ order book.
This will provide future revenue visibility and reflects its strengthening market position, Journeo said.
‘We have been working with HCC for many years and are delighted they have chosen our latest display systems and software as we work closely with them to deliver their [bus service improvement plans],’ said Journeo Chief Executive Officer Russ Singleton.
‘The UK government set out clear objectives with local authorities to deliver [bus service improvement plans] of which providing the accurate and up-to-date information is key to encouraging a modal shift towards the use of public transport.’
Hertfordshire has a population of around 1.2 million with over 4,200 bus stops, Journeo noted.
Shares in Journeo were up 0.7% to 190.25 pence each in London on Monday afternoon.
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