In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form again and tumbling lower. At the time of writing, the benchmark index is down 0.6% to 7,455 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are storming higher:
Data#3 Limited (ASX: DTL)
The Data#3 share price is jumping 13% to $5.51. This follows the release of the IT solutions company’s full year results this morning. For the 12 months ended 30 June, Data#3 reported a 20.3% increase in revenue to $1.96 billion and a 7.5% lift in net profit after tax to $25.4 million. The company also revealed a significant backlog of orders that could not be delivered or invoiced by the end of the year.
NRW Holdings Limited (ASX: NWH)
The NRW share price is surging 16% higher to $1.92. Investors have been buying the contractor’s shares following the release of a solid FY 2021 result. NRW reported an 11.5% increase in revenue to $2.3 billion and a 6.7% lift in EBITDA to $266.7 million. Positively, management is forecasting further growth in FY 2022.
Redbubble Ltd (ASX: RBL)
The Redbubble share price is up 13% to $3.46. Investors have been buying the ecommerce company’s shares after it reported a 58% increase revenue to $553 million. Together with operating leverage, this led to Redbubble swinging from a loss of $9 million in FY 2020 to a profit of $31 million in FY 2021.
Western Areas Ltd (ASX: WSA)
The Western Areas share price is jumping 14% to $2.82. The catalyst for this was the nickel producer revealing that it is in takeover talks with IGO Ltd (ASX: IGO). However, the company acknowledges that discussions are at a preliminary stage. As such, there can be no assurance whether a takeover offer will be made. It also warned that there are no assurances on what the terms and conditions of any such offer might be.