Journeo signals record year after strong six months

Journeo, the Ashby-based information systems provider to the transport operators and local authorities has seen profits by more than 50% after a record first six months of 2024.

Adjusted profit before tax was up by 54% to £2.8m on the back of a leap of 17% in revenues – to £25.6m.

Revenue for the full year is expected to be marginally ahead of expectations at around £50m, with adjusted profit before tax likely to come in £400,000 ahead at £4.8m.

Russ Singleton, chief executive of Journeo, said

“The record performance in H1 2024 and the uplift in sales order intake reflect the success of Journeo’s strategy to harness government-backed growth opportunities in the transport industry. There is increasing recognition by our target client base of our expertise in delivering leading-edge solutions that meet the challenges of increasing the number and quality of journeys using public transport.

“We continue to listen to our customers and invest in the research and development of future technologies and software, focusing on high performance, reliability, and sustainability.”

Journeo’s share price rose sharply on Tuesday (June 30), closing up almost 13% at 256.9p.