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Why these 4 ASX shares stormed higher today

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In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for its second successive day of gains. At the time of writing the index is up 0.6% to 6,308.6 points.

Four shares that have climbed more than most today are listed below. Here’s why they are storming higher:

The Appen Ltd (ASX: APX) share price has climbed 4% to $14.70 following the release of its half year results. For the six months ended June 30 Appen achieved revenue of $152.8 million, underlying EBITDA of $25.6 million, and underlying net profit after tax of $17.8 million. This was an impressive increase of 106%, 87%, and 119%, respectively, on the prior corresponding period. As a result of this strong performance, management lifted its full year underlying EBITDA guidance for FY 2018 to between $54 million and $59 million from $50 million to $55 million.

The Blackmores Limited (ASX: BKL) share price has zoomed 9% higher to $158.55 after the health supplements company released its full year results. For the 12 months ended June 30, Blackmores posted sales revenue of $601.1 million and net profit after tax of $70 million. This was an increase of 9% and 19%, respectively, on FY 2017’s result. Strong sales into China and the rest of Asia were largely the behind the positive result.

The Bravura Solutions Ltd (ASX: BVS) share price has surged 4.5% higher to $3.78. This morning the fintech company released full year results which revealed a 15% increase in revenue to $221.5 million and a 27% jump in underlying net profit after tax to $27 million. The growing popularity of its Sonata platform underpinned the impressive result.

The Propel Funeral Partners Ltd (ASX: PFP) share price has stormed 10% higher to $3.02 after the funerals company delivered a 76% increase in full year revenue to $80.9 million and a 128% increase in pro forma operating net profit after tax to $12.5 million. Looking ahead, management believes the business is well positioned to generate sustainable long-term growth.

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Returns as of 6th October 2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia owns shares of Appen Ltd and Bravura Solutions 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 Scott Phillips.

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