After a slow start, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decent gain. In early afternoon trade, the benchmark index is up 0.45% to 6,782.5 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
Kathmandu Holdings Ltd (ASX: KMD)
The Kathmandu share price is up over 8% to $1.23 following the release of its half year results. For the six months ended 31 January, Kathmandu reported a 12.9% increase in sales to NZ$410 million and a 19% jump in operating earnings to NZ$48 million. A key driver of this growth was its Rip Curl business. Due to the timing of its acquisition, it was only operating for three months of the prior corresponding half, compared to a full six months in the current period.
Pushpay Holdings Ltd (ASX: PPH)
The Pushpay share price has stormed 4.5% higher to $1.73. Investors have been buying the donation and community engagement platform provider’s shares after the Huljich family finally completed the sell down of its holding in the company. Buying its sizeable stake was global investment firm, Sixth Street. It will have a 17.8% interest in Pushpay once the deal completes next week. Sixth Street has previously invested in growth companies including Airbnb, AirTrunk, AvidXchange, Gainsight, Kyriba, MDLIVE, Paycor, PaySimple, Spotify, and SumUp.
Sigma Healthcare Ltd (ASX: SIG)
The Sigma share price is up 3% to 68.8 cents. This follows the release of its full year results this morning. For the 12 months ended 31 January, the pharmacy chain operator posted a 4.8% increase in revenue to $3.4 billion and a 133.6% jump in underlying net profit after tax to $29.1 million. Looking ahead, management is aiming for double digit earnings growth in FY 2021 and FY 2022.
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan share price has risen 3% to $6.52. This morning the clean lithium company announced plans to establish a full lithium traceability and CO2 measurement across its supply chain. Vulcan will work with Traceability-as-a-Service company Circulor to achieve this, which it believes is a world-first for the lithium sector.
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More reading
- Why the Vulcan Energy (ASX:VUL) share price is charging 9% higher
- Sigma (ASX:SIG) share price up 7% after doubling full year profits
- Kathmandu (ASX:KMD) share price on watch as dividends resume
- Here’s why the Pushpay (ASX:PPH) share price could surge higher today
- 3 of the best ASX shares to buy this month
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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