Australia's Verbrec jumps on winning multiple contracts

Verbrec

28/06/2021 04:08

** Engineering services firm Verbrec  VBC.AX  rises as much
as 7.4% to A$0.145, their biggest intraday pct jump since June 3
    ** Co secures https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02388562-6A1038359?access_token=83ff96335c2d45a094df02a206a39ff4
 multiple contracts; says project work-in-hand rises to A$70 mln
($53.12 mln), up 56% from January
    ** Contracts awarded include multi-year asset management
services agreement, extension to existing pipelines operations
and maintenance agreement, among other things
    ** Adds contracts are expected to generate up to A$25 mln in
revenues over coming years
    ** Expects work-in-hand to continue growing over the
near-term
    ** Stock down 50% this year, as of last close


($1 = 1.3179 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))