So far it has been a solid end to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the index is higher by 0.6% to 5,517 points with almost all sectors pointing higher today.
Four shares in particular which have performed strongly today are as follows:
Apiam Animal Health Ltd (ASX: AHX) shares have rebounded from yesterday’s sell off with a 4.5% gain to $1.18. The veterinary products and services company provided investors with a trading update yesterday at its annual general meeting and it’s fair to say things have been challenging. Short-term weakness in the beef and dairy industry means first-half revenue and EBITDA are expected to be lower than forecasted. Positively management does expect a stronger second half.
RCG Corporation Ltd (ASX: RCG) shares are up 6.5% to $1.49 after the owner and operator of footwear businesses including The Athlete’s Foot and Hype DC held its annual general meeting. Within its presentation management revealed FY 2017 guidance of underlying annualised full year EBITDA of $90 million. Up from $60.4 million in FY 2016, thanks partly to the acquisition of HYPE DC.
SDI Limited (ASX: SDI) shares have jumped 5.5% higher to 78 cents. The dental restorative product manufacturer has suffered big declines this week after revealing weak trading conditions so far in FY 2017. As a result it expects first-half net profit after tax to be in the range of $2 million and $2.5 million, compared with $3 million in the prior corresponding period. Despite this management is optimistic that the second half will be stronger and reaffirmed full year guidance.
Vita Group Limited (ASX: VTG) shares have jumped almost 15% to $3.55 after finally agreeing on new commercial terms with Telstra Corporation Ltd (ASX: TLS) over the retail stores it operates on the latter’s behalf. The new agreement will see an increase in the store network and mixed changes to its remuneration. According to the release, whilst Vita expects to see volume improvement this is likely to be offset by some margin compression.
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.