Tiger Brokers

BUZZ-Australia's Acusensus hits over 2-month high on expanded contract with WA government

Reuters
Feb 10
BUZZ-Australia's Acusensus hits over 2-month high on expanded contract with WA government 

** Shares of Australia's Acusensus ACE.AX rise 8.2% to A$1.85, their highest since November 19

** AI-based road safety services company says it is expanding its current contract with the Western Australia government

** Under the expanded deal, new trailer-based enforcement units will be deployed in the state over the next few months, with each unit capable of simultaneously detecting mobile phone usage, seatbelt non-compliance, point speed, average speed, and unregistered vehicles

** The incremental contract value from contract variation is expected to be around A$13 million ($9.22 million), co says

** Stock up 8.8% so far this year

($1 = 1.4106 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))

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