Why these 4 ASX shares surged higher today

Australian political turmoil appears to have spooked investors and caused the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) to tumble on Tuesday. In afternoon trade the benchmark index is down over 1% to 6,279.2 points.

Four shares that haven’t let that hold them back are listed below. Here’s why they are surging higher today:

The FlexiGroup Limited (ASX: FXL) share price has stormed 26% higher to $2.29 following the release of its full-year results. Investors have responded positively to news that the diversified financial services group delivered a cash net profit after tax at the high end of its guidance range in FY 2018. In addition to this, management’s guidance for cash net profit after tax in the range of $95 million and $100 million in FY 2019 has gone down well with investors. This implies annual growth of between 7.7% and 13.4%.

The Helloworld Travel Ltd (ASX: HLO) share price has zoomed almost 7.5% higher to $4.98 after posting a bumper profit result. In FY 2018 Helloworld delivered total transaction value growth of 3.5% to $6.1 billion, underpinned by strong air ticket sales volume growth. Pleasingly, although its revenue remained flat at $326.9 million due to the impact of lower airfares, the company delivered a 48.1% increase in profit after tax to $32 million. I think Helloworld is one of the best growth shares in the mid cap space and well worth a closer look.

The Super Retail Group Ltd (ASX: SUL) share price has surged 8% higher to $9.83 following the release of its full-year results. The retailer reported a net profit after tax of $128.3 million on total sales of $2,570 million for the 12 months ended June 30. This was a 26% and 4.2% increase, respectively, on FY 2017’s result. This allowed the board to declare a final dividend of 27.5 cents per share, lifting its full-year dividend by 5.4% to 49 cents.

The Virtus Health Ltd (ASX: VRT) share price has climbed almost 6% higher to $5.77 after the release of its full-year results. This gain is all the more impressive when you consider that the fertility treatment company’s shares had fallen almost 4% in early trade. Virtus’ reported net profit after tax came in 9.4% higher at $30.8 million, with earnings per share growing 9.3% year-on-year to 38.26 cents.

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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 Helloworld Limited and Super Retail Group Limited. The Motley Fool Australia has recommended FlexiGroup Limited and Virtus Health Limited. 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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