IT services company UXC Limited (ASX:UXC) has revealed a subsidiary has won contract extensions worth a combined $33 million to provide gas and electricity meter reading services in Victoria and NSW.
Skilltech Consulting, a wholly-owned unit of UXC, has negotiated the renewal of five separate contracts with power company SP AusNet (ASX:SPN), UXC said.
The new contracts have already taken effect and are for a three year period with an optional one-year extension.
The areas covered by the agreements variously include metro Sydney and country New South Wales, south east metropolitan Melbourne, and central and western Victoria.
Skilltech has been providing services to SP AusNet since 1995. UXC said the unit now reads over 33 million meters and has a 40% share of the Australian outsourced meter reading market.
UXC shares on Thursday grew 0.98% to $0.515.