Service Stream extends its NMRA contract with NBN

Company News

by Rachael Jones

Leading network services company Service Stream (ASX:SSM) has extended its Network MACs1 and Restoration Activities (NMRA) contract with NBN for an additional 18 month term to 31 December 2019.

NBN has an option to extend the contract for a further 6 months thereafter to 30 June 2020.

Under the contract, which was initially executed in September 2012, Service Stream will continue to provide nbn with services relating to the improvement, maintenance and relocation of infrastructure across its fixed-line broadband network.

Revenue from the NMRA contract over the additional 18 month term is estimated to be in the order of $45 million.

Shares in Service Stream (ASX:SSM) closed 0.33 per cent higher to $1.52
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.