In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is lower by 0.2% to 5,791 points thanks largely to declines in the materials and utilities sector.
Not all shares have dropped lower today though. In fact, four shares in particular have stormed higher. Here's why:
The InvoCare Limited (ASX: IVC) share price is up 7.5% to $14.06 after the funeral, cemetery, and cremation operator announced a solid full-year result. The company posted net profit after tax growth of 29.4% to $70.9 million. I was impressed with the result and believe it demonstrates why InvoCare is one of the best defensive shares on the ASX.
The Myob Group Ltd (ASX: MYO) share price has surged almost 7% to $3.80 after the accounting software provider reported full-year net profit of $56.6 million. This was an increase of 25% on the previous year and was driven by solid subscriber growth. Whilst it wouldn't be my first pick in the industry, I'll happily admit that this was an impressive result.
The Qantas Airways Limited (ASX: QAN) share price has jumped 5% to $3.73 despite the airline reporting a 25.1% drop in half-year profit to $515 million. The drop was largely the result of a disappointing performance from its Qantas International segment. Profit in the segment fell 23% due to increased competition and lower airfares.
The Retail Food Group Limited (ASX: RFG) share price has climbed 4% to $6.44 following the release of its half-year results. Although revenue grew just 5%, net profit after tax rose 17% to $33 million. For the full-year management has reaffirmed guidance of underlying NPAT growth of 20%. I believe this was another strong result from this quality company.
