Australia's ARN Media posts best intraday jump in 6 months on ad contract

ARN Media

08/07/2024 04:25

** Shares of ARN Media Ltd  A1N.AX  rise as much as 8.8% to
A$0.745, highest since June 13
    ** Stock posts its biggest intraday pct gain since Jan. 11
    ** Broadcaster says its HK-based business, Cody Outdoor, has
secured an advertising contract with Kowloon Motor Bus Co
    ** Says expected annualised contract revenue of over A$35
mln ($23.6 mln)
    ** Stock last up 2.9%, cutting YTD losses to 29.5%
 
 ($1 = 1.4819 Australian dollars)

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))