The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is having another positive day and finds itself higher by 0.7% to 5,769 points in afternoon trade.
Four shares which have made notably strong gains today are listed below. Here's why they have stormed higher:
The Class Ltd (ASX: CL1) share price is up 3.5% to $2.95 today. This morning Class reported a 53.3% increase in net profit after tax to $8 million. Pleasingly the company announced yet another gain in market share. Class finished the year with a market share of 24%, up 5% on the prior corresponding period.
The MNF Group Ltd (ASX: MNF) share price has climbed 4% to $5.00 after the telecommunications company released its full-year results. According to today's release, earnings before interest, tax, depreciation, and amortisation rose by 34% to $23.9 million, on total revenue of $191.8 million. Impressively, this was well ahead of its guidance.
The Nextdc Ltd (ASX: NXT) share price is up almost 5% to $4.43 despite there being no material news out of the data centre operator. But with its shares down sharply in the last few weeks, I suspect bargain hunters have swooped in to snap up shares at a great price. In my opinion NextDC is one of the best growth shares on the ASX.
The SG Fleet Group Ltd (ASX: SGF) share price has jumped 9% to $4.10 following the release of a strong full-year result. Thanks to the success of its recent acquisitions, SG Fleet posted underlying NPATA growth of 27.2% to $68.7 million. This beat its guidance of between $65.9 million and $68.6 million. Despite the strong gain today I think SG Fleet could be worth a closer look.
