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The latest update is out from Swoop Holdings Limited ( (AU:SWP) ).
Swoop Holdings Limited has entered into a significant three-year agreement with Flip TV Pty Ltd to provide wholesale internet services, expected to generate over $10 million annually from January 2025. This partnership will facilitate the migration of Flip’s 26,000 broadband customer accounts to Swoop’s network, enhancing Flip’s growth and improving customer experience. Despite the lower margin of this wholesale product, the contract is projected to be materially profitable and cash flow positive, underscoring Swoop’s commitment to supporting Flip’s expansion and solidifying its position in the telecommunications industry.
More about Swoop Holdings Limited
Swoop Holdings Limited is a national provider specializing in data, mobile, and voice services to channel, business, and residential customers. The company emphasizes its own fiber and fixed wireless infrastructure, aiming to become Australia’s premier challenger in the internet and telecommunications sector.
YTD Price Performance: 2.22%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €21.43M
Find detailed analytics on SWP stock on TipRanks’ Stock Analysis page.
