The All Ordinaries may be struggling to push higher today but that hasn’t stopped some big gains from being made at the small end of the market.
Three small cap shares on the rise today are listed below:
The Global Construction Services Limited (ASX: GCS) share price has climbed 6% to 71 cents a day after the release of the integrated on-site products and services supplier’s full-year results. Investors appear to have been impressed with Global Construction Services’ performance in FY 2018 which saw revenue rise 33% to $247.5 million and underlying net profit after tax increase 30% to $14.1 million. Its Commercial segment was the biggest driver of growth thanks largely to East Coast developments. Segment revenue rose 64% to $200.2 million during the 12 months.
The Infomedia Limited (ASX: IFM) share price has rocketed 21% higher to $1.20 after the provider of information solutions to the after sales parts and service sector of the automotive industry released its full-year results. Infomedia posted net profit after tax of $12.9 million on revenue of $72.9 million for the 12 months ended June 30. This was an increase of 7.9% and 3.5%, respectively, on FY 2017’s result. While this may not seem like a result to get excited about, it is a massive improvement on its first-half performance. In the first-half Infomedia’s net profit was down 18% on the prior corresponding period. Pleasingly, management appears confident in the company’s prospects for FY 2019.
The Kidman Resources Ltd (ASX: KDR) share price has continued its push higher and is up a further 4% to $1.23. The lithium miner’s shares have now risen 8% in the space of two days thanks to positive comments out of mining giant Sociedad Química y Minera (SQM). Yesterday SQM advised that it has agreed to sell its Caucharí-Olaroz lithium project to Ganfeng Lithium. The market appears pleased to see that the miner will now focus its efforts on its Chile operations and its joint venture with Kidman Resources in Western Australia.
The ASX small cap up 285% with no sign of stopping...
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Scott Phillips.