Australia's GenusPlus rises on securing maintenance and upgrade works

Genusplus

09/07/2024 02:21

** Shares of GenusPlus  GNP.AX  rise as much as 4.9% to
A$2.040; set to gain most since June 26, if current gains hold
    ** Specialist power and communications infrastructure and
services provider wins major program of maintenance and upgrade
works for Western Power
    ** Western Power - Australian State Government owned
corporation responsible for building, maintaining and operating
the South West Interconnecting System electricity network
    ** Co to provide distribution and transmission overhead
maintenance services across Western Power's network
    ** Adds, five-year agreement is expected to generate revenue
of about A$50 million ($33.71 million) in its first year
    ** Stock hits highest level since July 2
    ** Stock is up 38.9% this year, as of last close


($1 = 1.4832 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))