Signs are good for Journeo after strong six months

Journeo, the Ashby company which supplies information systems and technical services to the transport industry, has posted impressive first half results.

The acquisition of IGL Limited (Infotec) on 18 January generated revenue of £9.3m during the period, which resulted in revenue at the firm increasing by 45% to £21.8m, leading to a pre-tax profit of £1.7m.

Full-year revenue is anticipated to reach £41m, surpassing current market expectations, while profits are expected to slightly exceed forecasts.

The firm’s SaaS platform witnessed a 20% increase in connections, rising from 10,000 to 12,000, resulting in a boost in monthly recurring revenues.

CEO of Journeo, Ross Singleton said: “ The integration is going well with finance, HR, new product design and marketing working together and a number of cross selling initiatives underway to broaden the customer base, increase sales, annual recurring revenues and margins.”