In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. At the time of writing, the benchmark index is down 0.5% to 8,032.3 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Bega Cheese Ltd (ASX: BGA)
The Bega Cheese share price is up 6% to $4.52. This has been driven by the release of the diversified food company's full year results this morning. Bega Cheese reported a 4% increase in revenue to $3.5 billion, a 15% lift in EBITDA to $165.1 million, and a profit after tax of $30.5 million. The latter is up from a $229.9 million loss a year earlier. Looking ahead, the company expects normalised EBITDA in the range of $190 million to $200 million in FY 2025. This represents growth of 15%+ year on year.
Clinuvel Pharmaceuticals Limited (ASX: CUV)
The Clinuvel share price is up 11% to $15.45. This morning, this pharmaceutical company released its FY 2024 results and revealed a 15% jump in revenue to $95.3 million and a 16% increase in net profit after tax to $35.6 million. This strong performance was driven primarily by increased demand for its drug Scenesse. Clinuvel's chief financial officer, Peter Vaughan, commented: "Key financial metrics—including revenue, profit, investment, and asset growth—continue to show consistent year-on-year increases whilst expanding the ability to provide SCENESSE treatment to an increasing number of patients."
Dusk Group Ltd (ASX: DSK)
The Dusk share price is up 16% to $1.05. Investors have been buying this specialist retailer's shares today despite the release of an disappointing full year result. Dusk reported a 7.9% decline in sales to $126.7 million and a 62% reduction in pro forma EBIT to $6.2 million. However, a strong start to FY 2025 appears to have caught the eye of investors. Management revealed that total sales are up 16% and like for like sales are up 12.1% during the first 8 weeks of FY 2025.
Omni Bridgeway Ltd (ASX: OBL)
The Omni Bridgeway share price is up almost 11% to 93 cents. This morning, this litigation funder released its FY 2024 results. It reported a 10% decline in total gross income and revenue to $277 million but a massive jump in profits. The company's net profit after tax was $30.5 million, up from $0.9 million a year earlier. No dividends were declared for FY 2024.
