**Summary of Journeo PLC Half-Year Report (H1 2025)**
Journeo PLC, a leading provider of intelligent systems for transport networks and critical national infrastructure, released its interim results for the six months ended 30 June 2025. The report highlights strong financial and operational performance, with the company on track to meet full-year market expectations.
**Financial Highlights**
**Cash balance** increased to £18.0m (H1 2024: £12.9m).
**Adjusted profit before tax** remained stable at £2.8m (H1 2024: £2.8m).
**Sales order intake** grew by 25% to £30m (H1 2024: £24m), enhancing visibility for H2 2025 and beyond.
**Sales opportunity pipeline** expanded to £80m (H1 2024: £60m).
**Group revenue** decreased by 4% to £24.5m (H1 2024: £25.6m), in line with management expectations, due to phasing of the New York City subway contract.
**Strong organic growth** in Fleet Systems (46%) and Passenger Systems (17%), partially offset by a 58% decline in Infotec revenues.
**Basic undiluted profit per share** was 13.01p (H1 2024: 15.30p).
**Operational Highlights**
Secured the **largest ever framework award** valued at £10m over three years for First Bus UK.
Received a **significant £4.2m order** in the rail market for systems based on Journeo’s core capabilities.
**USA orders** totaled $5.2m, reflecting expanding presence in North America.
Won **notable contracts** for local authority display systems totaling £2.5m.
Published the **first Carbon Reduction Plan** and formed a Sustainability Committee to achieve Carbon Net Zero by 2050.
Completed the **acquisition of Crime and Fire Defence Systems (CFDS)** post-period, strengthening capabilities in critical infrastructure protection.
**Strategic Progress**
Continued execution of M&A strategy, with CFDS acquisition adding expertise in high-security infrastructure protection.
Refinement of business activities into three categories: **Integrated Services**, **Information Systems**, and **Infrastructure Protection**.
Progress in integrating business systems and strengthening the Senior Leadership Team.
**CEO Commentary**
Russ Singleton, CEO, emphasized strong organic growth in UK revenues, particularly in Fleet Systems and Passenger Systems, which offset the decline in Infotec’s US sales. The acquisition of CFDS was highlighted as a significant milestone, supporting the medium-term goal of reaching £100m revenue and double-digit operating profit.
**Outlook**
Journeo remains confident in delivering another record year, supported by organic growth, strategic acquisitions, and a strong financial foundation. The Board is focused on sustainable growth, innovation, and expanding market reach, particularly in Nationally Significant Infrastructure Projects (NSIPs).
**Post-Period Events**
Acquisition of CFDS completed on 2 September 2025.
Issuance of 225,366 new Ordinary Shares on 5 September 2025.
Journeo is well-positioned to achieve its long-term ambitions while creating value for shareholders, customers, and stakeholders.