Why Domino’s, Iluka, Netwealth, and WiseTech shares are storming higher

In afternoon trade on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to snap its losing streak. The benchmark index is currently up 0.5% to 6,998.8 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is up 7% to $71.62. Investors have been buying this pizza chain operator’s shares following the release of its full year results. Domino’s reported a 4.6% increase in global sales to $3.92 billion but a 12.5% decline in net profit after tax to $165 million. While the latter was a touch lower than consensus estimates, this has been overlooked due to expansion news. Domino’s revealed that it is expanding into Malaysia, Singapore, and Cambodia through the acquisition of 287 stores for $214 million.

Iluka Resources Limited (ASX: ILU)

The Iluka share price is up over 8% to $10.25. This morning Iluka released its half year results and revealed a 70.5% increase in underlying EBITDA to $525.5 million. This allowed the company to more than double its interim dividend to 25 cents per share.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price is up 9% to $14.25. This morning the investment platform provider released its full year results and revealed a 19.6% increase in revenue to $173.9 million and a 2.7% lift in net profit after tax to $55.6 million. Netwealth’s profit was largely in line with consensus estimates.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price has jumped 11% to $59.02. This follows the release of the logistics solutions company’s full year results. WiseTech reported a 25% increase in revenue to $632.2 million and a 71% increase in underlying net profit after tax to $181.8 million. The latter was ahead of the consensus estimate of $175.7 million.

The post Why Domino’s, Iluka, Netwealth, and WiseTech shares are storming higher appeared first on The Motley Fool Australia.

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More reading

• WiseTech share price surges 11% on record profits
• Domino’s share price sizzles 10% higher following FY22 report, Asian expansion
• Netwealth lifts full-year dividend on record inflows
• WiseTech Global hikes full-year dividend by 71% as profits surge higher
• Netwealth share price rises 9% on strong revenue growth in FY22 results

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 Netwealth and WiseTech Global. The Motley Fool Australia has positions in and has recommended Netwealth and WiseTech Global. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. 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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