The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday. In afternoon trade, the benchmark index is up 0.3% to 7,286.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:
Catapult Group International Ltd (ASX: CAT)
The Catapult share price is up almost 7% to 78.5 cents. Investors have been buying this sports technology company's shares after it delivered a strong full-year result. Catapult reported a 21.8% increase in SaaS revenue to US$84.4 million for the year. The company also revealed that it finished the year strongly, with operating earnings improving by a massive US$15.4 million half on half to US$2.2 million. In light of this, management expects to be free cash flow positive in FY 2024 without the need to raise capital.
OFX Group Ltd (ASX: OFX)
The OFX share price is up 20% to $1.85. This follows the release of the international money services provider's full-year results. OFX reported a 17.9% increase in turnover to $39.1 billion, a 42.4% jump in revenue to $225 million, and a 25.6% lift in net profit to $31.4 million.
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up 3.5% to $15.84. This has been driven by the release of the enterprise software provider's half-year results. TechnologyOne reported SaaS annual recurring revenue (ARR) up 40% to $316.3 million and profit before tax up 24% to $52.7 million. This was ahead of analyst estimates.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up almost 14% to 62.5 cents. This morning, analysts at Shaw and Partners suggested that Zip would be a big winner from regulatory changes in the BNPL industry. The broker also feels that it would be an attractive takeover target for Afterpay owner Block Inc (ASX: SQ2).
