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Journeo PLC - Leicestershire, England-based transport system services provider - Reports widening expenses offsetting revenue increase. Pretax profit in the six months to June 30 flat at £167,000 versus £166,000 a year prior. Revenue grows 23% to £8.9 million from £7.2 million. However, cost of sales widen by 27% to £5.6 million from £4.4 million. Administrative expenses grow by 17% to £3.0 million from £2.6 million. Finance expenses increase by 39% to £117,000 from £84,000.
‘The business has delivered strong revenue growth, is profitable and has generated its largest order intake. This performance demonstrates resilience during a period of challenging market conditions impacted by supply chain constraints and hikes in inflation,’ says Chief Executive Officer Russ Singleton.
Adds that results for 2022 will be in line with current market expectations. Says second half started well with £4 million secured in orders.
Current stock price: 117.00 pence, down 0.4% on Monday
12-month change: down 6.4%
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