23rd Dec 2022 10:22
(Alliance News) - Journeo PLC shares were up on Friday, after it said it has won a GBP500,000 purchase order from an unnamed transport partnership for northern England.
Shares in the Leicestershire, England-based transport system services provider were up 6.3% to 134.50 pence each in London on Friday morning.
Journeo said the order is for a range of its products, including LED displays, TFT displays and interactive journey planning equipment. The passenger information infrastructure will be used to improve bus services in the region.
It noted that the information systems will be installed along "strategically important" transport corridors through the region.
It added that the purchase order will be included in management's expectation for financial year 2023, adding to its "strong" order book.
Chief Executive Russ Singleton said: "We have been working with the constituent members of this transport partnership for many years, supporting them through their transforming cities objectives and we are naturally delighted to continue the relationship as they look to deliver on their 'bus service improvement plan'.
"The government set out clear objectives when asking local authorities to deliver BSIPs and the provision of the right information, at the right location, is key to encouraging people away from personal-use vehicles and on to public transport."
On Thursday, Journeo had said it agreed to acquire IGL Ltd for around GBP8.7 million, funded by a share issue. IGL is a rail passenger information equipment provider in the UK, with over 15,000 displays in operation.
By Sophie Rose, Alliance News reporter
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