The EnviroSuite Ltd (ASX: EVS) share price is surging higher this morning after a record quarterly result for the Aussie environment intelligence solutions group. At the time of writing, the EnviroSuite share price is trading for 16 cents, up 20%.

Why is the EnviroSuite share price surging?

EnviroSuite reported a strong third quarter highlighted by $2.1 million in new annual recurring revenue (ARR). The quarterly ARR added during the quarter was 180% on the previous quarter, or $1.15 million.

EnviroSuite’s total ARR is now $42.5 million with one-off revenue of $1.7 million. This figure was reported for hardware and services reported during the period. The Aussie company also added 13 new customers during the period with “key expansion revenue” across existing customers.

Furthermore, the continued recovery in the aviation sector was a big part of the strong quarterly result. EnviroSuite posted a new contract win at a major international airport in North America. In addition to expansion revenue across Dublin, Oakland, and San Francisco International Airport.

In Mining & Industrial, EnviroSuite posted expansion revenue at Pilbara Ports Authority amongst other wins.

Strong results in the group’s remaining Waste & Wastewater and Water segments helped to round out a strong quarter. The company added one additional site with Welsh Water and won Singapore’s national water agency global innovation challenge for “digital twin solutions for water treatment”.

The EnviroSuite share price has jumped at the market open this morning on the back of the news. 

EnviroSuite boasts a low churn rate of ~2% across its product suite. In addition, the diversified offerings from the group have helped to grow margins in its Software as a Service (SaaS) offering.

Foolish takeaway

The EnviroSuite share price will be one to watch throughout the day as investors take in the latest quarterly result. Shares in the Aussie environmental technology group surged as it posted a 180% increase in quarterly ARR today.

More reading

• ASX stock of the day: Why Envirosuite (ASX:EVS) shares are bouncing

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The CSL Limited (ASX: CSL) share price is a little wobbly this morning after negative vaccine news overnight from the United Kingdom.

The pharmaceutical giant, which produces and supplies the AstraZeneca PLC (LSE: AZ) COVID-19 vaccine in Australia, is trading close to its opening price after news that the UK medical regulator has found a “possible link” between the vaccine and blood clotting in younger adults. The regulator noted that blood clotting was considered a rare side-effect of the vaccine.

At the time of writing, the CSL share price is trading flat around $263 as Australian investors digest the news out of the UK.

What’s driving the CSL share price?

The Medicines and Healthcare products Regulatory Agency (MHRA) released a statement overnight concluding the evidence of a causal link between blood clotting and receiving the AstraZeneca vaccine in low platelet individuals was stronger than previously thought, but not conclusive.

The agency said the risk of blood clotting decreased with age and was “extremely rare and unlikely to occur”. 

Its statistics suggested the risk of developing a blood clot after the first vaccine dose was 1 in 250,000 (0.0004%) and the risk of a fatal blood clot was 1 in 1 million (0.0001%). Despite this, the UK will provide alternative vaccines to the under 30s if possible.

Our graphics to illustrate the potential benefits and potential harms of the AstraZeneca vaccine as announced by the MHRA this afternoon.

Benefits accrued over 16 weeks, at three different levels of exposure to the virus. pic.twitter.com/awB80xes3m

— Alexandra Freeman (@alex_freeman) April 7, 2021

https://platform.twitter.com/widgets.js

The World Health Organisation (WHO) responded to the UK news, saying evidence of the link, while plausible, was not yet confirmed. It also noted the risk of catching and dying from COVID-19 was much higher than the risk of the vaccine.

What did our top doctor say?

Australia’s chief medical officer, Professor Paul Kelly told ABC Radio:

There seems to be a trend in younger people and, at least in the European data in women being more common, but I would really stress these are extremely rare events and like with any treatment… we have to look at the risk and benefit.

And we do know that the benefits of vaccinations against this very serious diseases Covid is a really important component of our control…

Ultimately it will be a decision by the Australian Government about what that means for the vaccine rollout.

Australia’s position

Australia is primarily relying on the AstraZeneca vaccine in the fight against COVID. The government has contracted CSL to develop the vaccine locally.

Both the imported and locally manufactured AstraZeneca vaccine have already been approved by the Therapeutics Good Administration (TGA).

Speaking about the developments this morning, Prime Minister Scott Morrison said Australia’s medical experts would look at the data before making new recommendations to the government.

The Prime Minister also stressed the extremely low chances of people experiencing blood clotting from the vaccine. He advised that at present, the vaccine rollout would not be affected by the latest developments.

Motley Fool Australia reached out to CSL for comment, but none was received before publication.

More reading

• What’s happening with the CSL (ASX:CSL) share price?
• CSL (ASX:CSL) share price remains near 52-week low on COVID-19 vaccine delays
• 2 quality ASX healthcare shares to buy and hold
• Leading brokers name 3 ASX shares to buy today
• Top broker picks the best ASX shares to buy for the new quarter

Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Creso Pharma Ltd (ASX: CPH) share price is racing higher on Thursday following a positive announcement.

At the time of writing, the cannabis company’s shares are up 6% to 20.7 cents.

What did Creso announce?

This morning Creso provided the market with an update on its Canadian subsidiary, Mernova Medicinal.

According to the release, Mernova Medicinal has secured new purchase orders valued at C$145,192 (A$150,770) from the Ontario Cannabis Store and Yukon Liquor Corporation.

The company notes that these orders include a repeat order from the Ontario Cannabis Store and the second order for its pre-roll joint range in a very short period. Furthermore, the new orders also include a maiden purchase order for Mernova’s new one ounce bag offering.

Ontario Cannabis Store is the crown agency solely owned by the Province of Ontario. It reports directly to the Ministry of Finance and is the province’s only retailer and wholesaler of legal recreational cannabis.

Positively, management appears to be expecting further orders in the near future. It advised that it continues to witness strong uptake of its products across Canada and shorter intervals between purchase orders.

It believes this is very encouraging and highlights the company’s strong brand recognition in a highly competitive market.

Management commentary

Mernova’s Managing Director, Jack Yu, said: “To have secured these new purchase orders is a major achievement for Mernova. Particularly, the repeat order from OCS is very pleasing and our second order for Ritual Sticks in another new province highlights the significant potential the product has amongst consumers.”

“The pre-roll market segment is booming and offers Mernova a huge opportunity that we plan to capitalise on to the fullest. We are very confident that we can leverage our growing reputation as a high-quality, artisanal, craft cannabis producer, to make headway into this market, and establish ourselves as producers of some of the best pre-roll joints in the country with our Ritual Sticks, as we’re currently doing with our Ritual Green brand, in the dried flower market.”

Mr Yu also sees a big opportunity for its new one-ounce bag offering.

“We are also very happy to have launched our new one-ounce bag offering, which will allow consumers to purchase more of their favourite cannabis at competitive prices, by offering a volume discount. The larger ounce offering will also allow the Company to streamline its inventory practices, ensuring we retain the highest standard and quality of cannabis in our range of high-quality offerings,” he concluded.

More reading

• Creso Pharma (ASX:CPH) share price sinks despite US cannabis update
• Creso (ASX:CPH) share price edges higher on product launch
• Here’s why ASX cannabis shares are lighting up today
• How New Yorkers could send ASX cannabis shares higher
• Here’s why the Creso Pharma (ASX:CPH) share price is falling 7%

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Even though Tesla (NASDAQ: TSLA) is a “minor player” in the industry, one analyst says, its stock is so overvalued at $700 per share that its $660 billion valuation is almost equivalent to the combined valuation of the entire U.S. and European automotive markets. 

According to Roth Capital analyst Craig Irwin, the market has lost sight of fundamentals when it comes to the electric vehicle (EV) maker. Although it is doing well and is a market leader, “People are just assuming that Tesla has no competition when they put this kind of lofty valuation on the company,” Irwin said yesterday on CNBC’s Squawk Box.

He believes the stock is worth no more than $150 per share.

All the good news from Tesla’s recent first-quarter deliveries report is priced into the stock, the analyst said. 

The EV maker reported producing 180,338 vehicles in the first three months of 2021 and delivering 184,800, well ahead of the 168,000 vehicles Wall Street was expecting Tesla to deliver.

The production numbers consisted solely of Model 3 sedans and Model Y crossover SUVs; it made none of its luxury Model S sedans and Model X SUVs. But it plans to ramp up their production.

To justify its current stock price, Irwin said, Tesla needs to come out with more-advanced vehicles. “They would really need to deliver on the robo-taxis, the fully autonomous vehicles,” he said, but instead, rival EV makers are introducing “vastly superior technology.”

So far in 2021, Tesla stock is down 2%, but the EV maker’s shares are up 620% over the last 12 months. “I see this as a market dislocation,” Irwin said.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• Tesla and GameStop were some of the most popular US shares last week
• Tesla stock could surge 51% to $1,000 according to this analyst
• Bitcoin price mania spreads as Ether price hits record highs
• Why Tesla stock jumped on Wednesday
• Here are the US shares ASX investors have been buying

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The De Grey Mining Limited (ASX: DEG) share price is on watch this morning, after the company announced news from its Hemi Gold Discovery Project.

In particular, the announcement highlights that De Grey has discovered more near-surface gold mineralisation.

The De Grey share price closed yesterday at $1.15. At the time of writing, shares in De Grey are trading for $1.17, up 1.3%.

Let’s look closer at the announcement made by the mining company this morning.

Hemi Gold Discovery Project

Today, De Grey shared a drilling update from Hemi. It has found depth and strike extensions at the project’s Falcon intrusion.

It has also found strong mineral intersections 90 metres below the surface and shallow mineralisation extended to the north of the intrusion.

Including the previously reported:

• 180m vertically below 26.3m @ 2.3g/t Au from 309m, and newly announced:
• 300m below and 20m south of 72m @ 1.6g/t Au from 108m.

Shallow mineralisation extended to the north of Falcon included:

• 32m @ 1.8g/t Au from 63m and
• 72m @ 1.6g/t Au from 108m.

The company additionally announced infill drilling has confirmed mineralisation continuity. These results included:

• 45m @ 1.5g/t Au from 175m,
• 41m @ 2.2g/t Au from 61m, and
• 25m @ 1.2g/t Au from 148m.

The company discovered the resource near Hemi, Western Australia, in late 2019. Since then, its share price has increased 2,200%.

Management’s comments

De Grey manager director, Glenn Jardine stated the results confirmed the increasing scale and continuity of the resource at Hemi:

Results of extensional drilling completed this year at Falcon, Brolga, Aquila, Crow and Diucon/Eagle demonstrate that Hemi has more potential and remains open along strike and at depth. Results of infill drilling announced this year increasingly confirm continuity of mineralisation at each deposit and in the case of Crow, has identified multiple new sub-vertical lodes.

De Grey Mining share price snapshot

After today’s news, the De Grey Mining share price is ready for another good day on the ASX.

The company’s share price is only up by 3.6% year to date. Though, it makes up for the small year to date growth with its 360% increase over the last 12 months.

De Grey Mining has a market capitalisation of $1.48 billion, with approximately 1.2 billion shares outstanding.

More reading

• De Grey (ASX:DEG) share price falters despite new gold discovery
• The De Grey (ASX: DEG) share price lower despite outstanding gold results

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Piedmont Lithium Ltd (ASX: PLL) share price is pushing higher on Thursday.

In morning trade, the US-based lithium developer’s shares are up 1.5% to 91 cents.

This latest gain means the Piedmont Lithium share price is now up 146% since the start of the year.

Why is the Piedmont Lithium share price rising?

Investors have been buying Piedmont Lithium’s shares after it provided an update on its flagship project in North Carolina.

According to the release, the company has updated the mineral resource estimate for the Piedmont Lithium Project, resulting in a 40% increase in lithium resources.

The release explains that the total mineral resource estimate for the project is now 39.2 Mt at 1.09% lithium oxide. Of this, 55% or 21.6 Mt is currently classified in the indicated category.

This makes the Piedmont Lithium Project one of the largest spodumene resources in the North American market. Importantly, it will be the largest in the United States.

Management commentary

Piedmont Lithium’s President and CEO, Keith D. Phillips, said: “Increasing the scale of our North Carolina mineral resource to 39.2 Mt at 1.09% Li2O establishes our asset as one of the largest spodumene resources in North America – and the only one in the United States.”

“The expanded resource offers the potential for increased annual lithium production, something we will evaluate as we prepare our updated Scoping Study for release next month.”

“All this is coming together at an ideal time, as the public and private sectors dramatically increase their investment in the electrification of America. Given the scope and strategic location of our Piedmont Lithium Project, we believe we are ideally positioned to play a critical role in helping the United States build a clean economy and a U.S. based EV supply chain.”

More reading

• These ASX shares have doubled in value in 2021
• The Sayona (ASX:SYA) share price is tumbling 5% today
• Why Airtasker, Netwealth, Piedmont Lithium, & Resolute Mining are tumbling lower
• Here’s why the Piedmont Lithium (ASX:PLL) share price is crashing 17% lower
• Piedmont Lithium (ASX:PLL) successfully completes US public offering

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Immutep Ltd (ASX: IMM) share price has been a strong performer again on Thursday.

In morning trade, the biotechnology company’s shares are storming 10% higher to 48.5 cents.

Why is the Immutep share price storming higher?

Investors have been buying Immutep’s shares following the release of its second announcement in as many days.

On this occasion, the company has provided an update on its lead product candidate, eftilagimod alpha.

According to the release, the soluble LAG-3 protein, which is better known as efti or IMP321, has received Fast Track designation in first line recurrent or metastatic head and neck squamous cell carcinoma (HNSCC) from the United States Food and Drug Administration (FDA).

The company notes that it was granted Fast Track designation due to its potential to address an unmet medical need, as evidenced by encouraging data indicating a positive risk benefit ratio.

The data package evaluated by the FDA included the promising results from Part C of Immutep’s Phase II TACTI-002 trial. The Overall Response Rate (ORR) from the trial was approximately 36% (approximately 44% in evaluable patients) for 28 patients receiving efti in combination with KEYTRUDA.

What does Fast Track designation mean?

FDA Fast Track designation is awarded to help important new therapies reach patients earlier.

It is designed to facilitate the development and speed up the review of drug candidates to treat serious conditions and fill an unmet medical need.

The company notes that, importantly, it will now have access to more frequent meetings and communications with the FDA. It could potentially even receive Rolling Review of its Biologic License Application (once submitted) and may be eligible for Accelerated Approval and Priority Review, if relevant criteria are met.

Overall, a very promising development, making the Immutep share price one to watch over the rest of the year.

More reading

• Here’s why the Immutep (ASX:IMM) share price is climbing today
• Why Immutep, Inghams, REA Group, & Synlait shares are sinking
• Why the Immutep (ASX:IMM) share price is rocketing 39% higher today
• Why the Immutep (ASX:IMM) share price is up 6% today
• Why the Immutep (ASX:IMM) share price will be in focus today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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US President Joe Biden is pitching his US$2.25 trillion infrastructure plan as integral for his country to keep ahead of China – a rivalry that ASX share investors should warmly embrace.

The president warned that China is trying “to own the future” as he pushes US lawmakers to get behind his ambitious plan, reported Bloomberg.

The new economic arms race will have implications for a range of ASX miners and could reach well beyond the obvious names.

US-China rivalry is good for ASX iron ore miners

It’s easy to see how iron ore demand will get a boost as steel is needed to build infrastructure. But I don’t believe that the increase in US demand is factored into the earnings forecasts of the ASX iron ore majors.

These include the Rio Tinto Ltd (ASX: RIO) share price, Fortescue Metals Group Limited (ASX: FMG) share price and BHP Group Ltd (ASX: BHP) share price.

Some analysts have recently warned that the iron ore price is set for a sharp pull-back as Chinese demand for the mineral can’t maintain its fervent pace.

Earnings upside for these ASX shares

That may be true, but there’s no mention about what’s happening in the US. If Biden gets his way, the ramp up in infrastructure construction activity could roughly coincide with the predicted slowdown in China.

This means that the iron ore price, while it may not break new record highs, might not fall as far as some experts are forecasting.

Other ASX shares to benefit from US infrastructure stimulus

But there is a wide range of other ASX miners that could get a Biden boost too. The president made it clear that his massive infrastructure stimulus isn’t just about road and rail.

“Do you think China is waiting around to invest in its digital infrastructure or in research and development?” Biden was quoted as saying by Bloomberg.

“I promise you, they are not waiting. But they’re counting on American democracy to be too slow, too limited and too divided to keep pace.”

Biden wants to use part of the $3 trillion to spend on water pipes, charging stations for electric vehicles and technology.

The move could add further support to copper, lithium and rare earth prices.

Foolish takeaway

Some ASX shares that are synonymous with these minerals include the OZ Minerals Limited (ASX: OZL) share price, Lynas Rare Earths Ltd (ASX: LYC) share price, Galaxy Resources Limited (ASX: GXY) share price and Orocobre Limited (ASX: ORE) share price.

It shouldn’t be lost on investors that the benefits from the US stimulus will go beyond ASX share prices.

Biden’s bold plan has the potential to lower Australia’s dependency on China – and that’s something all Aussies would welcome.

More reading

• Why the Rio Tinto (ASX:RIO) share price is in focus
• Why the Orocobre (ASX:ORE) share price is surging
• ASX 200 rises, EML jumps, Zip falls
• Why ASX copper shares are cheering for Joe Biden
• Alliance (ASX:AQZ) share price tumbles despite material BHP deal

Motley Fool contributor Brendon Lau owns shares of BHP Billiton Limited, Galaxy Resources Limited, Lynas Limited, Orocobre Limited, OZ Minerals Limited, and Rio Tinto Ltd. Connect with me on Twitter @brenlau.

The Motley Fool Australia has no position in any of the stocks mentioned. 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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When mentioning Westpac Banking Corp (ASX: WBC), it probably doesn’t conjure up images of Bitcoin (CRYPTO: BTC) trading. Westpac is Australia’s oldest bank after all.

Yet Westpac looks set to benefit from Bitcoin and other cryptocurrencies very soon. Perhaps to the tune of $500 million, no less.

How? Well, it’s complicated (and no, Westpac isn’t about to sell bitcoins itself).

Westpac is one of the largest backers of a venture capital fund by the name of Reinventure – “Westpac’s $150m venture capital fund committed to early stage ventures”.  The two businesses are heavily intertwined, with Westpac telling us that:

“[By] working with Reinventure, Westpac gains deep insight into technologies and business models that may drive new customer experiences and disrupt traditional financial services. The Reinventure portfolio companies gain access not just to Westpac capital, but may strategically benefit from Westpac resources and expertise to enable the company to scale more rapidly

One of Reinventure’s early investments was a US company called Coinbase. Coinbase is now one of the largest cryptocurrency exchanges in the world. Coinbase tells us that Reinventure made an investment into Coinbase in 2015 during a Series C funding round. Well, it might be time to reap for Westpac.

Westpac set for a Bitcoin payday

According to Coinbase, the company is set to list on the US Nasdaq exchange. The listing will occur on April 14. Clearly, Coinbase doesn’t believe in superstition because that’s the same day the Titanic hit its iceberg. Its ticker code will be COIN for its Class A shares. As seems to be the norm these days, its Class B shares (which allow 20 votes per share) will not be publically traded and will remain with company insiders.

Coinbase has been chumming up the waters too. Just this morning, it released an earnings report for the 2021 calendar year. In this report, Coinbase reported 56 million verified users, trading volume of US$225 billion, revenue of US$1.8 billion and adjusted earnings before interest, tax, depreciation and amortisation (EBITA) of US$1.1 billion.

We don’t yet know the listing price that COIN shares will go for. But according to a report in the Australian Financial Review (AFR), that will be released next Wednesday. The report estimates that Coinbase will be valued at between US$70-100 billion when it does go public. If that were the case, Reinventure would be looking at a profit of roughly $450 million on its original $50 million investment.

No doubt Westpac will be very pleased with its efforts if that does come to pass.

More reading

• Westpac (ASX:WBC) share price on watch after ASIC launches civil proceedings
• Will China’s great emissions wall crash the Bitcoin price?
• 3 reasons Bitcoin could double your money (and more)
• ASX 200 up 0.25%: EML surges on acquisition news, Westpac’s APRA update
• Westpac (ASX:WBC) share price lower on APRA update

Sebastian Bowen owns shares of Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The S&P/ASX 200 Index (ASX: XJO) has been range-bound for the past few months, bouncing between 6,600 and 6950.

The index managed to push into a six-week high on Wednesday, attempting to break out of its trading range. Here are the ASX 200 shares riding the strength of the broader market and making record highs. 

ASX 200 shares making 52-week highs 

Brickworks Ltd (ASX: BKW)

The Brickworks share price has pushed into record territory riding the tailwinds of better than expected half-year results. Its shares briefly hit an all-time record high of $21.29 on Wednesday.  

At face value, Brickworks’ half-year results were relatively flat with revenue falling 4% to $432 million and underlying net profit after tax down 10% to $90 million. However, from a broker perspective, these results beat expectations with the company’s property portfolio delivering a far stronger performance. 

Codan Ltd (ASX: CDA) 

The Codan share price is the gift that keeps on giving. The metal detector and communication electronics company has announced a stream of positive news in the past few months.

This includes a profit upgrade back in December 2020, the acquisition of Domo Tactical Communications in February 2021, an outstanding half-year results announcement during the February reporting season and another acquisition this month. Its acquisitions are both earnings accretive for FY21 and complement Codan’s core business segments. 

EML Payments Ltd (ASX: EML) 

Things seem to have just clicked for the EML share price in 2021. Its shares spent most of 2020 below their pre-COVID highs, chopping back and forth as shopping centre closures across Europe and the United States affected its core gift cards business. 

Its shares are on the comeback as revenues pivot into general-purpose reloadables such as gaming payouts, salary packaging and commission payouts. The company’s half-year results highlight its versatility despite challenging business conditions for gift cards. Its interim results highlighted a solid 61% increase in revenue to $95.3 million and a $30% increase in net profit after tax and amortisation to $13.2 million. 

On Wednesday, the EML share price surged to record all-time highs after the announcement of its acquisition of Sentenial Limited. Its shares briefly touched $5.80, briefly surpassing its pre-COVID high for the first time. 

Premier Investments Ltd (ASX: PMV) 

Soaring profits have pushed the Premier Investments share price to new highs. The company reported a 7.2% increase in global sales to $784.6 million and an 88.9% surge in net profit after tax to $188.2 million for the period of 27 weeks ended 30 January 2021.

This was driven by record sales from its boutique sleepwear business, Peter Alexander, and an uplift in margins. 

Reece Ltd (ASX: REH) 

Reece is another ASX 200 share that’s pushing into record territory after a solid set of half-year results. The leading supplier of bathroom and plumbing products delivered a 4% increase in sales revenue to $3,074 million while stronger margins saw its net profit after tax increase 17% to $123 million.

The Reece share price surged 4.83% on Wednesday, closing at an all-time record high of $18.88. 

More reading

• 2 ASX 200 shares to buy for growth
• EML Payments (ASX:EML) and these ASX shares just hit new highs
• ASX 200 rises, EML jumps, Zip falls
• ASX 200 up 0.25%: EML surges on acquisition news, Westpac’s APRA update
• Why EML, NextDC, Qantas, & Recce shares are racing higher

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends EML Payments. The Motley Fool Australia owns shares of and has recommended Brickworks and Premier Investments Limited. The Motley Fool Australia has recommended EML Payments. 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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