In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is up 0.5% to 6,027 points.
Four shares that have climbed more than most today are listed below. Here's why they have started the week with strong gains:
The Ardent Leisure Group (ASX: AAD) share price has climbed 3% to $1.94 following the release of its half-year results. Although Ardent Leisure posted a decline on the top and bottom lines compared to the prior corresponding period, investors appear to have been pleased to see that its theme parks and US-based Main Event business have had a strong start to the second-half.
The BlueScope Steel Limited (ASX: BSL) share price is up 4.5% to $16.19 after the steel manufacturer delivered a first-half reported net profit after tax of $84.2 million including one-off items. This was a 23% increase on the first-half of FY 2017. In light of its strong performance, the board has approved a partially franked interim dividend of 6 cents per share and extended the on-market share buy-back by a further $150 million.
The Propel Funeral Partners Ltd (ASX: PFP) share price has pushed 4.5% higher to $3.26 after announcing a 90% increase in half-year operating net profit after tax to $6.3 million. Thanks to the strong first-half, the funerals company has upgraded its forecast FY 2018 operating EBITDA to $21.1 million. This is 15% higher than the its prospectus forecast.
The Reliance Worldwide Corporation Ltd (ASX: RWC) share price has jumped 7% to $4.43 after the plumbing products company released a strong half-year result. Thanks to double-digit growth in core SharkBite Push‐To‐Connect fittings and accessories and the first full period inclusion of Holdrite, sales grew 28.3% on the prior corresponding period to $362.6 million. This led management to raise its EBITDA guidance range for the full-year to between $150 million and $155 million, from $145 million to $150 million.
