3 under-the-radar ASX shares going gangbusters on results

A few under-the-radar ASX shares are catching the eye of investors on Thursday after releasing their half-year results.

Here’s what is getting investors excited today:

Hipages Group Holdings Ltd (ASX: HPG)

The Hipages share price is up 11% to $1.02. This morning, this online tradie marketplace operator reported a 15% increase in both revenue and recurring revenue to $37.4 million and $35.2 million, respectively, and a 45% jump in EBITDA to $8.4 million. This was driven by increases in connection volumes, subscription tradies, and average revenue per user.

Hipages’ CEO and co-founder, Roby Sharon-Zipser, said:

Our marketplace has benefitted from ongoing momentum arising from the current uncertain macroeconomic environment, where we have seen a clear increase in demand from tradies using the hipages platform to connect to jobs posted by consumers. Consumers are benefiting from increased engagement and competition for those jobs.

MMA Offshore Ltd (ASX: MRM)

The MMA Offshore share price is up over 6% to $2.10. Investors have been buying the marine service provider’s shares after it reported a 28% lift in revenue to $204.3 million and massive 339% jump in underlying net profit after tax to $39.5 million.

MMA Offshore’s Managing Director, David Ross, commented:

Market conditions continue to be positive with strong demand for our vessels and services and ongoing rate improvements driving a 97% increase in EBITDA as compared to the first half of FY2023. The medium-term outlook for offshore activity remains strong with over US$500 billion in greenfield oil and gas projects forecast to be sanctioned globally over the next five years including over US$180 billion in our key operating regions.

Superloop Ltd (ASX: SLC)

The Superloop share price is up 7% to 81 cents after investors responded positively to the telecommunications company’s half-year results. Superloop posted a 32.7% increase in revenue to $197.6 million and a profit after tax (before amortisation) of $1.2 million. The latter compares favourably to a loss of $8.3 million a year earlier.

Superloop’s CEO and Managing Director, Paul Tyler, said

We are very pleased to report another period of strong financial performance, delivering record organic revenue and net new customer growth over the period. Importantly, all three segments contributed to this growth.

The post 3 under-the-radar ASX shares going gangbusters on results appeared first on The Motley Fool Australia.

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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 Hipages Group. The Motley Fool Australia has positions in and has recommended Hipages Group. The Motley Fool Australia has recommended Mma Offshore. 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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