Transfield soars on $1.2bn govt contract

Shares spike 19% after group wins contract for work on offshore processing centres on Nauru and Manus Island.

Transfield Services (TSE) has been awarded a government contract for work on offshore processing centres that will net the company over $1 billion.

Investors reacted well to the news. At 1301 AEDT, Transfield shares were 18.87% higher at 94.5 cents, against a benchmark index incline of 0.07%.

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