Australia's Beam Communications gains on getting contract with Telstra unit

Beam Communications Holdings

07/11/2022 23:58

** Shares of Beam Communications  BCC.AX  advance as much as
7.5% to A$0.215, their highest since Oct 25 
    ** Satellite telecom co says it has secured a contract with
Telstra's  TLS.AX  unit, Mobile Tracking and Data Pty Ltd
 urn:newsml:reuters.com:*:nFWN3239TE
    ** Says contract is to supply Iridium airtime to Telstra's
unit 
    ** Adds value of contract in the first two years is in
excess of A$1.2 million ($776,640.00) and is expected to
contribute positively to co's revenue and profit over the time
period 
    ** Stock has fallen 52.4% this year as of last close
($1 = 1.5451 Australian dollars)
 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))