Australia's Ventia Services climbs on new fibre contract

Ventia Services

12/04/2023 03:08

** Shares of Ventia Services Group  VNT.AX  jump as much as
2.3% to A$2.670, biggest intraday pct gain since Dec. 8, 2022
    ** Infrastructure services provider says it has been
provided a "significant contract" with NBN Co
    ** Says contract is an extension and new scope under NBN's
Fibre Connect program
    ** Adds contract is expected to deliver revenue of about
A$280 mln ($186.48 mln) over the next 2.5 years
    ** Works under the new award to commence from July
    ** Shares touch their highest level since March 30
    ** Co's NZ-listed shares climb as much as 5.8% to NZ$2.920,
jumping most since Aug 3, 2022
    ** Stock has risen 8.3% YTD, as of last close

($1 = 1.5015 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))