In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has defied international markets and pushed higher. At the time of writing the benchmark index is up over 0.2% to 5,750 points.
Four shares doing a lot of the heavy lifting are listed below. Here's why they have surged higher today:
The Costa Group Holdings Ltd (ASX: CGC) share price has climbed almost 6% to $5.22 after posting a 37% increase in full-year profit. Australia's leading grower, packer, and marketer of fresh fruit and vegetables expects profit growth in the region of 10% in FY 2018. Whilst I am a big fan of the company, I'm not a fan of its current valuation. I would suggest investors wait for a better entry point.
The Estia Health Ltd (ASX: EHE) share price is up over 4% to $3.14 after the aged care operator posted a 47% increase in net profit after tax to $40.7 million. Looking ahead, management expects mid-single digit EBITDA growth in FY 2018. Whilst it isn't my first pick in the industry, I think it is worth a closer look given Australia's ageing population.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has jumped 11% to $49.53 following the release of its full-year results. Although net profit after tax fell 6% to $230 million, investors appear to be pleased with its FY 2018 guidance. While formal guidance will come at its AGM, management has advised that it expects top and bottom line growth this year.
The Perpetual Limited (ASX: PPT) share price is up 5% to $52.59 after the release of its full-year results. The equities manager and wealth administrator posted a 4% increase in net profit to $137.3 million. A key driver of the profit growth was its Private Wealth business which delivered profit before tax growth of 18% to $40.5 million.