Why Codan, Domino’s, Lottery Corp, and Wisetech shares are storming higher today

The S&P/ASX 200 Index (ASX: XJO) is have a difficult session. In afternoon trade, the benchmark index is down 7% to 7,607.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Codan Ltd (ASX: CDA)

The Codan share price is up almost 14% to $9.55. This morning, the electronic products company released its half-year results and reported a 26% increase in group revenue to $265.9 million and a 24% lift in net profit after tax to $38.1 million. This was underpinned by strong growth across both its Communications and Metal detection businesses.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is up 2.5% to $40.53. This follows the release of the pizza chain operator’s half-year results. Although Domino’s reported a 13% decline in net profit after tax to $62.3 million, investors were pleased to see that the second half has started positively. For example, ANZ same store sales were up 8.39% during the first seven weeks of the half.

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is up over 2% to $5.16. Investors have been buying this lotteries company’s shares after it posted a 1.8% decline in revenue to $1,738.3 million but a 25.7% increase in  net profit after tax (including significant items) to $217.4 million.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is up 11% to $88.72. This follows the release of the logistics solutions company’s half-year results. Wisetech reported a 32% increase in revenue to $500 million and 23% lift in EBITDA to $230 million. The main driver of its growth was the key CargoWise business, which reported a 40% increase in revenue to $421 million.

The post Why Codan, Domino’s, Lottery Corp, and Wisetech shares are storming higher today appeared first on The Motley Fool Australia.

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More reading

• 4 All Ords ASX dividend shares going gangbusters on results
• 2 ASX 300 tech shares making huge moves on earnings updates
• WiseTech share price leaps 8% today as revenues surge
• Domino’s share price charges higher on improving outlook
• 1 ASX dividend stock down 55% to buy right now

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, Lottery, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Domino’s Pizza Enterprises. 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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