Journeo plc, a provider of information systems and technical services to transport operators and local authorities, has seen revenues soar in its first half.
According to a trading update for the six months ended 30 June 2023, group revenues increased by 145% to £21.8m, up from £8.9m in the first half of 2022, with the acquisition Infotec, in January 2023, delivering revenue of £9.3m in the period.
Profit before tax at the Ashby-de-la-Zouch firm, meanwhile, increased to £1.7m.
Revenue for the full year is now expected to be £41m, significantly ahead of current market expectations, with profit expected to be marginally ahead.
Russ Singleton, Chief Executive of Journeo plc, said: “The first half of this year has seen the Group enter a transformational stage in its development following the acquisition of Infotec in January and generate strong organic and acquisitive growth.
“Revenues increased 145% to £21.8m, delivering a pre-tax profit of £1.7m. We entered H2 2023 with a £27m order book, a £55m sales opportunity pipeline and expect revenue for the full year to be £41m, with profit marginally ahead of current market expectations.
“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.”
