In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline amid rising tensions in Ukraine. At the time of writing, the benchmark index is down 1.4% to 7,130.5 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are racing higher:
Cochlear Limited (ASX: COH)
The Cochlear share price has jumped 9% to $207.62. This follows the release of the hearing solutions company's half year results. Cochlear delivered a 26% increase in half year underlying net profit to $158 million, which was well ahead of the market consensus estimate.
Coles Group Ltd (ASX: COL)
The Coles share price is up over 3% to $17.30. This follows the release of the supermarket giant's half year results. Although Coles reported a 4.4% decline in EBIT to $975 million due to COVID impacts, this was ahead of the Visible Alpha analyst consensus estimate of $965 million. It also didn't stop Coles maintaining its fully franked interim dividend at 33 cents per share.
Costa Group Holdings Ltd (ASX: CGC)
The Costa share price has stormed 7% higher to $3.21. Investors have been buying the horticulture company's shares after a strong performance from its international operations helped drive a 16% increase in full year net profit after tax (before one offs) to $64 million. International sales grew 30% over the 12 months and now account for over a quarter of Costa's overall sales.
Monadelphous Group Limited (ASX: MND)
The Monadelphous share price is up 10% to $10.92. Investors have been buying the mining services company's shares following the release of its half year results. Monadelphous reported a 12% increase in revenue to $1,065 million and a 17.7% jump in net profit after tax to $30.1 million. This was driven by record half year maintenance and industrial services revenue.
