The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to put yesterday’s decline behind it and is higher by 0.3% to 5,961 points in afternoon trade.
Four shares climbing more than most today are listed below. Here’s why they have stormed higher:
The a2 Milk Company Ltd (Australia) (ASX: A2M) share price is up 5% to $7.42 following the release of a trading update at its annual general meeting. For the first four months of FY 2018 a2 Milk has delivered an impressive 68.9% increase in revenue on the prior corresponding period. This growth appears to have convinced the market that it deserves to trade at a premium.
The Bellamy’s Australia Ltd (ASX: BAL) share price has followed a2 Milk higher and is up almost 5% to $11.76. Investors appear to believe that the infant formula company will also be a big winner from the growing demand for Australian/New Zealand infant formula from Chinese consumers.
The Monadelphous Group Limited (ASX: MND) share price has climbed 3.5% to $18.43 after the mining services company released its annual general meeting presentation. According to the release, a surge in activity is expected to deliver half-year sales revenue growth of over 30% on the prior corresponding period. This is, however, expected to moderate in the second-half of FY 2018.
The Swift Networks Group Ltd (ASX: SW1) share price is up almost 6% to 45 cents after it won three major lithium miner contracts to provide telco services and entertainment content. According to the release, Swift will provide a broad suite of world-class content and connectivity to up to 825 end users at new and existing camps in Western Australia for initial periods of up to three years. I think Swift will be one to watch in 2018.
As well as Swift, these top three shares could be destined for big things in 2018.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.