Streaming TV junior Swift jumps 18pc on its biggest sales deal
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Streaming TV junior Swift Networks has jumped 18 per cent off the back of its biggest revenue deal since listing.
The five-year contract sees the company provide entertainment services to between 2500 and 4600 rooms annually through its partnership with IT provider DXC Technology.
The deal would bring more than $1.5 million revenue, Swift told investors.
The shares (ASX:SW1) shot up 18 per cent to 45c before settling back to 41c by 12pm AEST.
It’s the first potential revenue to come out of the DCX deal made in October.
The deal saw Swift become DXC’s vendor of choice for the provision of digital entertainment systems in niche markets such as resources and aged care.
“Our reseller relationships, which also include Telstra, AST and Tripleplay, are producing pleasing results demonstrating that our strategy is being delivered as planned and we look forward to continued growth in conjunction with our partners,” chief Xavier Kris told the market.
Today’s results follow increased earnings reported earlier this year.
In the first half the company doubled its previous earnings to reach $1 million – what sent its share price up to 47c.
Following that, its latest quarterly reported record cash receipts – what it said was largely due to new customer activity in the aged care and hospitality sectors.