In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting back from a poor start and is now only down marginally. At the time of writing, the benchmark index is down 0.1% to 7,235.1 points.
Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are climbing:
Dexus Property Group (ASX: DXS)
The Dexus share price is up 2.5% to $10.40. This follows the release of the property company’s half year results this morning. For the six months, Dexus posted an 82% increase in net profit after tax to $803.2 million. Strong demand and rent collections drove the result. Rent collections came in at 97.9%, whereas occupancy was 95.1% for the Dexus office portfolio and 98.6% for the Dexus industrial portfolio.
JB Hi-Fi Limited (ASX: JBH)
The JB Hi-Fi share price is up 3.5% to $53.48. This appears to have been driven by a positive reaction to its half year results from brokers. One of those is Credit Suisse, which has retained its outperform rating and lifted its price target on the retail giant’s shares to $60.27. It was pleased with its result and buyback and expects the company to benefit from the work from home trend.
Seek Limited (ASX: SEK)
The Seek share price is up 7% to $29.72. Investors have been buying this job listings company’s shares after it reported a 59% increase in first half revenue to $517.2 million and a 147% lift in reported net profit after tax (before significant items) to $124.2 million. A note out of Goldman Sachs reveals that Seek’s revenue and net profit were 4% and 20% ahead of consensus estimates. It also highlights that its FY 2022 guidance upgrade is well-ahead of current estimates.
Sims Ltd (ASX: SGM)
The Sims share price has jumped 18% to $17.66 following the release of a very strong half year result. The scrap metals company reported a 73.9% increase in revenue to $4,265.0 million and a 541.3% jump in underlying EBIT to $361.7 million. This was driven by “higher sales volumes and higher material prices, combined with disciplined margin management.”
The post Why Dexus, JB Hi-Fi, Seek, and Sims shares are climbing today appeared first on The Motley Fool Australia.
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More reading
- Seek (ASX:SEK) dividend rebounds to a 3-year high, what it means for shareholders
- Seek (ASX:SEK) share price leaps 8% as revenue soars
- ASX 200 (ASX:XJO) midday update: BHP and SEEK impress, Beach sinks
- ‘Excellent performance’: Sims (ASX:SGM) share price rockets 16% on stellar earnings
- Profit up 82%: Dexus (ASX:DXS) share price steady on active half year results
Motley Fool contributor James Mickleboro owns SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited. 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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