Australia's Southern Cross Electrical jumps on buying Force Fire Holdings

Southern Cross Electrical Engineering

31/03/2025 03:27

** Southern Cross Electrical Engineering SXE.AX rises as much as 6.4% to A$1.66; set for biggest intraday pct gain since late February

** Engineering firm executes share purchase agreement to acquire fire safety solutions provider Force Fire Holdings in deal valued at A$53.3 mln ($33.5 mln)

** Says acquisition increases co's exposure to services and maintenance style works and recurring revenues

** More than 614,000 shares traded vs 30-day avg vol of 519,000

** SXE last up 3.5%, extends YTD gains to 3.2% YTD

($1 = A$1.5896)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))