Although it has given back some of its early gains, in afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is up 0.1% to 5,792 points and on course to make it four successive days of gains.
Four shares which have posted notably strong gains today are listed below. Here's why they are higher:
The Breville Group Ltd (ASX: BRG) share price has climbed almost 6% to $10.84 following the release of a solid full-year result. On the top line the appliance manufacturer reported revenue growth of 5.1% to $605.7 million, and on the bottom line net profit grew 7.3% to $53.8 million. While the company stopped short of giving official guidance for FY 2018, management did state that it believes the company is positioned for continued success.
The Cochlear Limited (ASX: COH) share price has jumped almost 9% to $155.10 after the implantable hearing solutions provider reported an 18% jump in net profit after tax to $223 million. Looking ahead, Cochlear has forecast net profit of $240 million to $250 million in FY 2018. Whilst I think Cochlear is a high quality company, I'd prefer to buy in at a much cheaper price.
The Evolution Mining Ltd (ASX: EVN) share price is up 5% to $2.37 after the gold miner announced its full-year results and a new dividend policy. Evolution posted record statutory net profit after tax of $217.6 million, compared to a net loss of $24.3 million in FY 2016. This increased profitability led to the introduction of a new dividend policy which will see 50% of after tax earnings paid to shareholders.
The Treasury Wine Estates Ltd (ASX: TWE) share price is up almost 5% to $13.16 following the release of its profit result. In early trade the wine company's shares dropped 3% lower, potentially on the back of its FY 2018 guidance. But the market appears to have overlooked this now. Management also revealed its plan to buyback $300 million of shares between September of this year and August of 2018.
