Australia's Acrow Formwork set for best day in five months on contract win

Future Generation Australia

10/08/2023 02:01

** Shares of Acrow Formwork and Construction Services
 ACF.AX  climb as much as 7% to A$0.845, on track for their best
day since March 8, if trend holds 
    ** The formwork and scaffolding co says it has signed the
following contract with Future Generation for the provision of
labour hire for scaffold services for its Snowy 2.0
project urn:newsml:reuters.com:*:nFWN39Q2W0
    ** Says estimated contract spend is A$55.6 mln ($36.32 mln)
over five years
    ** Shares hit highest since early May 
    ** Stock up 26.4% this year, as of last close
    

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))