SRG Global hits 10-week high on service contract for Iron Bridge project

SRG Global

05/07/2022 01:45

** Shares of Australian construction contractor SRG Global
 SRG.AX  jump as much as 5.7% to A$0.655, their highest since
April 26 
    ** Co says it has been awarded a five-year term contract
with Iron Bridge Operations, the company running the Iron Bridge
project located in Western Australia, and paper packaging and
recycling firm Visy Industries Australia   urn:newsml:reuters.com:*:nFWN2YL0CA
    ** Deal, valued at ~A$100 million ($68.73 million), for
providing rope access and electrical maintenance requirements
across the new magnetite project 
    ** Shares on track for their biggest intra-day pct jump
since June 24
    ** More than 711,100 shares change hands as compared with
the 30-day average volume of ~571,038 shares  
    ** Stock up 21.6% this year, as of last close, vs a 11.2%
decrease in the benchmark S&P/ASX 200 index  .AXJO  

($1 = 1.4550 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))