Journeo PLC (AIM:JNEO), an ‘intelligent transport’ company, has secured two contracts worth a combined £3 million to provide its on-board CCTV and Automatic Passenger Counting (APC) solutions.
Following the announcement, Journeo's AIM-quoted shares advanced more than 7.5% to trade at 225p.
The larger of the two contracts, worth £2.4 million, will see the company install CCTV and APC systems, plus support services, for a fleet of 35 trains on East Midlands Railway and 29 on CrossCountry. In total, the systems will cover 158 carriages.
A separate deal worth £0.6 million will sees Journeo provide similar systems for Arriva Trains totalling 32 carriages.
Journeo said it expects to realise £1 million of the new contract revenue by the end of this year.
"I am delighted that these large rail companies have selected our technology, software and services to enhance passenger safety, monitor infrastructure and provide a fleet-wide view of live and historical occupancy data,” chief executive Russ Singleton said.
“As each system comes on-line, our services and live passenger information will be available to these operators and their end users on the Journeo portal, adding to groups' monthly recurring SaaS revenues."