The S&P/ASX 200 Index (ASX: XJO) has started the week on a disappointing note. In late morning trade the benchmark index is down 0.9% to 6,070.1 points.
Four shares that have not let that hold them back are listed below. Here's why they are charging higher:
The Altium Limited (ASX: ALU) share price is storming 4% higher to $34.80. This follows the release of the electronic design software company's full year results. Altium delivered revenue growth of 10% to US$189 million and a 13% lift in EBITDA to US$76.63 million. This result was in line with expectations. Looking ahead, management continues to target revenue of US$500 million by 2025. Though, it warned the pandemic could push this back 6 to 12 months.
The Beach Energy Ltd (ASX: BPT) share price has jumped 7% to $1.58 following the release of its full year results. The energy producer posted underlying EBITDA of $1,108 million for FY 2020. This was down 19% on the prior corresponding period and driven by a 21% decline in its realised oil price. Looking ahead, Beach advised that it is on track to deliver production of 37 to 43 MMboe by FY 2025. This is up from 26.7 MMboe in FY 2020.
The JB Hi-Fi Limited (ASX: JBH) share price has surged 5% higher to $49.71. This morning the retail giant released its full year results and revealed an 11.6% increase in total sales to $7.9 billion and a 33.2% lift in underlying net profit after tax to $332.7 million. This led to JB Hi-Fi increasing its final dividend by 76.5% to 90 cents per share. Which means its total FY 2020 dividend is up 33.1% year on year to 189 cents per share.
The Starpharma Holdings Limited (ASX: SPL) share price is up 4.5% to $1.08. This follows news that the dendrimer products developer has signed a new research partnership with leading Chinese pharmaceutical company Tianjin Chase Sun Pharmaceutical. The deal will see the development of several dendrimer enhanced product (DEP) nanoparticle formulations for an anti-infective drug.
