Shares in Australian tech company UXC are soaring after it secured $100 million in contracts

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Shares in Australian IT consultant UXC are up more than 7.3% to $0.87 after revealing it has secured more than $100 million in contracts.

The raft of new contracts includes a 3 year agreement with Transpower in New Zealand to support its Oracle and Microsoft databases, a five-year contract with an Australian construction company to install a bunch of IT systems and water treatment company Ixom (formerly Orica). It also has a 3 year deal with a NSW government agency to supply computer support infrastructure.

About 60% of the contracts are new revenue streams which UXC managing director Cris Nicolli said should ensure the company posts strong growth this year.

“The winning of these contracts provides a very solid platform to support our strong FY16-FY18 growth aspirations and increases the level of annuity business that is so important to the stability and growth targets of UXC,” he said.

Here’s the chart.

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