Why Aussie Broadband, Australian Ethical, Jumbo, and Vulcan are racing higher

The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a gain. In afternoon trade, the benchmark index is up 0.35% to 7,636.9 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are jumping:

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price is up almost 14% to $4.34. This morning, this broadband provider released its half-year results and reported a 17.7% increase in revenue to $445.9 million and 12.7% lift in EBITDA to $46.3 million. A key driver of this growth was a 20.6% increase in total broadband connections to 765,800.

Australian Ethical Investment Ltd (ASX: AEF)

The Australian Ethical share price is up 6.5% to $5.22. This follows the release of the investment company’s half-year results. Australian Ethical reported a 33% jump in operating revenue to $48.5 million and 71% increase in underlying profit after tax to $8.5 million.

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo share price is up 6% to $16.98. This has been driven by the release of the online lottery ticket seller’s half-year results. Jumbo achieved an 18.4% increase in revenue to $73.9 million and a 14.5% lift in underlying net profit after tax (before amortisation) to $20.8 million. This allowed the company’s board to increase its fully franked interim dividend by 17.4% to 27 cents per share.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is up 6% to $2.19. Investors have been buying this lithium developer’s shares after it released a funding update. Management advised that Vulcan’s Phase One project is potentially suitable for European Investment Bank (EIB) financing and the project has advanced to the “Under Appraisal” stage. The proposed financing could amount to up to 500 million euros (~A$825 million).

The post Why Aussie Broadband, Australian Ethical, Jumbo, and Vulcan are racing higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• This ASX lithium share is charging 13% higher on $825m financing update
• Aussie Broadband share price rockets 11% after bumper results and upgraded guidance
• A fund manager is betting on this ASX 300 stock. Is it a buy?
• 3 ASX shares predicted to enjoy ‘strong growth’ in 2024 earnings
• Down 70%: An insider just loaded up on this ASX 300 lithium share

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 Aussie Broadband, Australian Ethical Investment, and Jumbo Interactive. The Motley Fool Australia has recommended Aussie Broadband, Australian Ethical Investment, and Jumbo Interactive. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/nTv9Gw2