3 ASX All Ords shares that marched higher on Friday

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price todayA graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today

The S&P/ASX All Ordinaries Index (ASX: XAO) closed in the red on Friday, down 1.9% to just below 6,789 points. But as is often the case, a few ASX All Ords shares defied the index and ramped higher today.

Let’s take a look.

KMD Brands Ltd (ASX: KMD)

The first All Ords share we’ll take a look at today is KMD Brands. Formerly known as Kathmandu Holdings, KMD Brands is the mob behind popular retail brands Kathmandu, Rip Curl, and Oboz. Today the KMD Brands share price had a 1.66% bump to 92 cents. There was no news from the company today. However, on Tuesday it released its FY22 full-year results and announced a final dividend of 3 NZ cents per share.

KMD Brands reported a 6.5% bump to its gross underlying profit, compared to FY21, at NZ$576.7 million. But operating expenses were 12.2% higher, contributing to a 33.7% dip in underlying net profit after tax (NPAT). Given the impact of COVID lockdowns on ASX retail shares, perhaps the market expected worse and that’s why KMD shares have risen by almost 4% this week.

Myer Holdings Ltd (ASX: MYR)

Myer had a rocking day on the market closing up 3.5% to 59 cents. This one is a bit of a mystery though. There’s been no price-sensitive news from the All Ords retail giant today, or even this week.

Last week Myer dropped its FY22 full-year report, in which the company revealed an NPAT of $60.2 million, 103.8% higher than FY21 (adjusted for Jobkeeper). It declared a final dividend of 2.5 cents per share. So far in FY23, CEO John King says Myer has had “… our best sales start to a financial year since 2006”.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

This ASX biotech share was another star performer amongst the All Ords shares today. The Paradigm Biopharmaceuticals share price rose by 1.6% to $1.27. While today’s price movement is also a mystery, we note that a change of director’s interest notice was filed on Monday for CEO and Founder Paul Rennie.

The notice showed Rennie participated in the company’s recent entitlement offer by purchasing 100,410 shares through a personal investment trust and another 133,435 shares through his superannuation fund. The total consideration was more than $300,000. The entitlement offer raised $66 million. The capital raise will be used to support the company’s phase 3 clinical program and other activities through to 2024.

The post 3 ASX All Ords shares that marched higher on Friday appeared first on The Motley Fool Australia.

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