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Why these 4 ASX shares rocketed higher today

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to fight its way back into positive territory and is up slightly at 5,942 points.

Four shares doing a lot of the heavy lifting are listed below. Here’s why they have rocketed higher today:

The A2 Milk Company Ltd (ASX: A2M) share price has climbed a massive 25% to $10.89 following the release of its half-year results. The fast-growing dairy company smashed expectations when it revealed revenue growth of 70% to NZ$435 million and net profit after tax growth of 150% to NZ$98.5 million. The strong result also sent the shares of rival Bellamy’s Australia Ltd (ASX: BAL) hurtling 11% higher ahead of its release tomorrow.

The Appen Ltd (ASX: APX) share price is up a remarkable 30% to $10.62. This morning the machine learning and artificial intelligence dataset provider released its full-year results which revealed an impressive 50% increase in revenue and 62% lift in EBITDA. Pleasingly, management expects FY 2018 to be equally strong and has provided EBITDA guidance of between $50 million and $55 million. This represents year-on-year growth of 77.9% to 96%.

The Cleanaway Waste Management Ltd (ASX: CWY) share price is up 7% to $1.50. Investors have responded positively to the waste management company’s half-year results release this morning. Although Cleanaway posted just an 8.4% increase half-year revenue, statutory net profit after tax grew an impressive 60.7% on the prior corresponding period. The company saw margins across its entire business widen meaningfully during the period.

The Corporate Travel Management Ltd (ASX: CTD) share price has jumped 11% to $23.77 following the release of its half-year results. The corporate travel specialist reported a statutory net profit of $30.6 million on revenues of $172.8 million for the six months ended December 31. This was an increase of 15% and 38%, respectively, on the prior corresponding period. I think this result demonstrates why it is one of the best growth shares on the local share market.

Missed these gains? Then don't miss out on these growth shares which could be next in line to rocket.

Top 3 ASX Blue Chips To Buy 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 and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of A2 Milk and Appen Ltd. 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.

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