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Swift Media (ASX:SW1) wins $2M in new contracts

Telecommunication
ASX:SW1      MCAP $16.16M
08 April 2020 14:15 (AEST)

Swift Media (SW1) has won three new contracts worth a total $2 million.

The contracts are to provide fit-for-purpose entertainment systems at workforce accommodation villages.

The three contracts are for Mineral Resources, Roy Hill and a quarantine camp.

Mineral Resources

Swift has won a new contract with Mineral Resources for the supply pay-TV content and ad-hoc support and maintenance services to five of its remote accommodation sites.

The contract is valid for two years, where Swift will provide content to rooms and wet mess areas.

Roy Hill

Swift has also won a contract extension with Roy Hill for another year. The company will provide entertainment services to the Roy Hill mine village in Western Australia.

Quarantine camp

Thirdly, Swift Media has been appointed to provide television services, Wifi, movies and 24/7 support to a quarantine camp. This initial contract is for 780 rooms.

“We are delighted to convert these three, important new contract wins from our
growing pipeline of opportunities,” CEO Pippa Leary said.

“Having streamlined Swift to focus on our core verticals, these appointments demonstrate our compelling value proposition and ability to leverage our market-leading position to drive growth. We look forward to working closely with our partners to deliver outstanding results,” Pippa added.

Swift is up 86.7 per cent on the market this morning, trading for 2.8¢ per share at 11:42am AEST.

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