Shares of Acrow Formwork and Construction Services (ASX:ACF) saw a surge as high as 7% to A$0.845.

With this increase, they are positoned for their biggest gain since March 8, if the trend continues.

The formwork and scaffolding company announced that it has signed a contract with Future Generation for the supply of labour hire for scaffold services for their Snowy 2.0 project.

According to the company, the estimated contract expense will be approximately A$55.6 million over the span of the next five years.

The company’s shares reached their highest point since early May.

By the close of the year, the stock has seen an increase of 26.4%.

Acrow Formwork and Construction Services (ASX:ACF) provides formwork and scaffolding services, particularly known for major construction projects.