Australia's Swift Network climbs on contract with Hubify

Swift TV

20/05/2022 02:02

** Shares of Swift Networks Group  SW1.AX  jump 17.7% to
A$0.02 - set to rise the most since April 13, if gains hold
    ** Telecom services provider says it has signed contract
worth A$1.5 mln ($1.05 mln) with Hubify  HFY.AX   urn:newsml:reuters.com:*:nASXQGrjN
    ** Co says it will supply proprietary communication and
entertainment solutions to Hubify's key Aged Care clients, under
contract 
    ** Adds contract is expected to generate upfront
installation fees in Q1 FY23 and recurring revenues for an
initial 54 months
    ** Stock down 5.6% this year, as of last close
($1 = 1.4233 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))