The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks to be on course to finish the day lower. In afternoon trade the benchmark index is down over 0.2% to 5,736 points after a day of disappointing earnings releases.
Four shares which have managed to defy the market and climb higher are listed below. Here's why they have posted strong gains today:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price has climbed 5% to $4.74 after the dairy company reported a profit of $90.6 million on revenues of $549.5 million for FY 2017. This was ahead of its recent upgraded guidance. Pleasingly the company has forecast continued growth in FY 2018, with infant formula and milk powders in Australia and China expected to be particularly strong. I think it could still be a great buy and hold investment even after its strong gain this year.
The Monadelphous Group Limited (ASX: MND) share price has rocketed 9% to $15.84 a day after announcing its full-year results. Today's gain is quite a surprise considering no less than three brokers came out this morning with sell ratings on its shares. Analysts at Citi, Deutsche, and Macquarie all appear to believe its shares are overvalued.
The Tassal Group Limited (ASX: TGR) share price is up 4% to $3.96 after the salmon producer posted a 19.8% increase in statutory net profit after tax to $58.1 million. The strong result was largely driven by the success of its strategic initiatives which have also positioned it for a strong FY 2018. I think Tassal's shares are great value and could be worth considering today.
The WiseTech Global Ltd (ASX: WTC) share price has jumped 8.5% to $7.55 after the release of its FY 2017 result. According to the release, the software-as-a-service company posted a whopping 1371% increase in net profit to $31.9 million. Pleasingly the annual attrition rate for its CargoWise One software remains under 1%. I believe this result demonstrates why WiseTech could have an extremely bright future ahead of it.
