Profits triple at Journeo as acquisition strategy pays off

Journeo, the Ashby-based information systems provider, has posted stellar results for 2023.

Revenue at the company more than doubled to £46.1m, while profit before tax increased by 325% to £3.7m.

The firm bought Infotec and MultiQ during the year to boost both figures.

Russ Singleton, CEO of Journeo, said: ” I am very pleased with the progress we have made towards reaching our goal of becoming a market leader in our field. Our strengthening intellectual property and increased barriers to entry into our markets are helping us establish defendable market positions. Each year, we are growing our recurring revenue base as well as our sales order book, providing us with greater forward earnings visibility. Together with healthy cash balances, we are able to invest further in our technologies and business.”