The S&P/ASX 200 Index (ASX: XJO) is on course to record a second sizeable decline in as many days. At the time of writing, the benchmark index is down 1% to 6,975.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
Altium Limited (ASX: ALU)
The Altium share price has rocketed 20% higher to $35.99. This follows the release of the electronic design software company's full year results which smashed expectations. Altium was guiding to revenue of US$213 million to US$217 million with an EBITDA margin at the lower end of 34% to 36%. However, it delivered revenue of US$220.8 million and an EBITDA margin of 36.7%. The team at Bell Potter were particularly impressed.
Ansell Limited (ASX: ANN)
The Ansell share price is up over 8% to $27.30. Investors have been buying this health and safety products company's shares following the release of its full year results. Ansell reported a 3.7% decline in sales revenue to US$1.95 billion and a 32.1% drop in EBIT to US$228.1 million. While not great on paper, this was better than the market was expecting from Ansell.
Monadelphous Group Limited (ASX: MND)
The Monadelphous share price is up 6% to $12.12. This morning this engineering company released its full year results and revealed 1.2% decline in revenue to $1.93 billion but an 11% lift in net profit after tax to $52.2 million. This result was driven by record maintenance and industrial services revenue, which grew 19.4% to $1.17 billion.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 3% to $3.27. This follows the release of a full year result which revealed stunning profit growth in FY 2022. Thanks to sky high lithium prices and strong production, the company reported EBITDA of $814.5 million for the 12 months. This was up from just $21.4 million a year earlier.
