The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a small gain. In afternoon trade, the benchmark index is up 0.2% to 7,301.6 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Accent Group Ltd (ASX: AX1)
The Accent share price is up 6.5% to $2.28. Investors have been buying this fashion and footwear retailerâs shares following the release of a stellar half-year update. Accent reported a 39% increase in sales and a 290% jump in net profit after tax to $170.2 million. Another positive was that Accent increased its interim dividend by 380% to a fully franked 12 cents per share.
Brambles Limited (ASX: BXB)
The Brambles share price is up 8% to $13.00. This follows the release of the logistics solutions companyâs half-year results. Brambles reported a 7% increase in sales revenue and a 9% lift in profit after tax. Looking ahead, management has upgraded its FY 2023 guidance. It now expects revenue growth of between 12% to 14% and underlying profit growth of between 15% to 18%.
Infomedia Limited (ASX: IFM)
The Infomedia share price is up 11% to $1.31. Investors have been buying this automotive industry software providerâs shares after it delivered a solid half-year result. Infomedia reported a 6.7% increase in revenue to $62.9 million and a 38.5% jump in net profit after tax to $4.8 million.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 3.5% to $4.63. This has been driven by the release of the lithium minerâs half-year results. Pilbara Minerals posted a 647% increase in revenue to $2.18 billion and a 989% increase in profit after tax to $1.24 billion. This allowed the company to declare its inaugural 11 cents per share fully franked interim dividend.
The post Why Accent, Brambles, Infomedia, and Pilbara Minerals shares are pushing higher appeared first on The Motley Fool Australia.
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More reading
- Pilbara Minerals share price charging higher on maiden dividend
- This ASX 200 share is leaping 8% on bumper profits and a boosted dividend
- Infomedia share price shifts up a gear as profits surge almost 40%
- Which ASX 200 lithium share takes the crown for dividend yield right now?
- Everything you need to know about the inaugural Pilbara Minerals dividend
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Infomedia. The Motley Fool Australia has recommended Accent Group and Infomedia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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