The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) bounced back from a soft start to finish the day almost 0.2% higher at 6,339.2 points.
Four shares that climbed more than most today are listed below. Here’s why they ended the week with a bang:
The Ausdrill Limited (ASX: ASL) share price rocketed 14% higher to $1.95 after Moody’s Investor Services placed the company’s credit ratings on a review for upgrade following its proposed acquisition of Barminco Holdings. Moody’s also placed Barminco’s credit ratings on review for upgrade. In other news, UBS retained its buy rating and lifted the price target on Ausdrill’s shares to a sizeable $2.80.
The Link Administration Holdings Ltd (ASX: LNK) share price climbed almost 6.5% to $8.07 after the administration services company posted a 67% increase in operating NPATA to $206.7 million. Management advised that the strong growth was driven by continued earnings momentum, a positive eight-month contribution from the Link Asset Services acquisition, and a solid base to pursue its growth strategy.
The Hansen Technologies Limited (ASX: HSN) share price stormed over 5% higher to $3.55 after the billing software company reported a net profit of $28.8 million on operating revenue of $230.8 million for FY 2018. This was a 21% and 32% increase, respectively, over the prior corresponding year. Management maintained guidance for a flat FY 2019.
The Vita Group Limited (ASX: VTG) share price surged 11% higher to $1.17 despite reporting a 44% decline in full-year net profit after tax to $22 million. Investors appear pleased to see that the company’s performance improved notably in the second half. Furthermore, management provided a positive outlook for FY 2019, stating that it expects the key ICT channel to continue to improve, generate cash flow, and strong returns thanks to its optimisation and productivity programs. Vita Group will pay a full-year dividend of 9.1 cents per share fully franked, equating to a massive 7.8% yield.
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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 Hansen Technologies. 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.
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