The S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. In afternoon trade, the benchmark index is up a fraction to 7,615.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are surging:
Challenger Ltd (ASX: CGF)
The Challenger share price is up 7% to $7.05. This follows the release of the annuities company's half-year results. Challenger posted a 16% increase in normalised net profit before tax of $290 million and an 80% jump in statutory net profit after tax to $56 million.
Hansen Technologies Limited (ASX: HSN)
The Hansen share price is up almost 6% to $5.39. This morning, the billing software provider announced the acquisition of Powercloud GmbH for an equity value of ~A$49 million. Powercloud is a leading provider of mission-critical billing and customer management software products to utility companies and regional municipalities across Germany. It is expected to add FY 2025 revenues of approximately A$40 million to A$46 million and is anticipated to become EBITDA accretive within the financial year ending June 2025.
JB Hi-Fi Limited (ASX: JBH)
The JB Hi-Fi share price is up a further 5% to $63.57. Investors have been buying the retailer's shares since the release of its half year results on Monday. Although JB Hi-Fi's total sales were down 2.3% to $5.16 billion and its earnings before interest and tax (EBIT) fell 20% to $386.7 million, this was still comfortably ahead of the market's expectations.
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price is up almost 11% to $11.09. This follows the release of the online furniture and homewares retailer's half-year results. Temple & Webster reported a 23% increase in revenue to a record of $254 million and a 3% lift in EBITDA to $7.5 million. The latter meant an EBITDA margin at the top end of its guidance range.
