In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to start the week with a disappointing decline. At the time of writing the benchmark index is down 0.6% to 5,995.3 points.
Four shares that have not let that hold them back are listed below. Here's why they are charging higher:
The Catapult Group International Ltd (ASX: CAT) share price has rocketed over 12% higher to $1.43. Investors have been buying the sports analytics and wearables company's shares following the release of its full year update. According to the release, Catapult generated net free cash of $9 million in FY 2020. This was a massive $24.1 million increase on FY 2019's result. As a result, it has achieved positive cash flow a year earlier than forecast. This was driven partly by its subscription-based business model.
The Eclipx Group Ltd (ASX: ECX) share price is up 6% to $1.38. This follows the announcement of a binding agreement for the sale of the Right2Drive business to Growth Factor Group for a purchase price of up to $26.5 million. The transaction includes an ongoing commercial relationship with Right2Drive, including a right to supply new vehicle leases to Right2Drive for a period of three years. All existing leases between Eclipx and Right2Drive will also remain on foot.
The FlexiGroup Limited (ASX: FXL) share price is up 3.5% to $1.25. This morning FlexiGroup released an update on its buy now pay later platform, Humm. According to the release, fourth quarter ecommerce volume was up 315%, with total transactions up 447% on the prior corresponding period. This was driven by a record number of ecommerce and instore integrations during the quarter and a new BPAY feature which allows customers to pay for bills in manageable interest. At the end of the quarter, the humm platform had a total of 56,000 retail partners.
The Whispir Ltd (ASX: WSP) share price has surged 17% higher to $3.94 following its fourth quarter update. The communications workflow platform provider's update revealed strong demand by new and existing customers during the pandemic. According to the release, the company's annualised recurring revenue rose 4.2% over the March quarter and 35.7% over the prior corresponding period to $42.2 million. This was driven by strong growth in the ANZ and Asia regions.
