The All Ordinaries Index (ASX: XAO) is up a healthy 0.4% in early afternoon trade today, but these two ASX All Ords shares are leaving those gains in the dust.
Investors are bidding up the stocks following some strong earnings results reported this morning.
Which companies am I talking about?
Read on!
ASX All Ords share leaps on soaring profits
The first ASX All Ords share leaping higher on strong earnings results is IPD Group Ltd (ASX: IPG).
Shares in the distributor of electrical equipment and industrial digital technologies closed yesterday at $4.55. At the time of writing, shares are changing hands for $4.96 apiece, up 9.0%.
Investors are bidding up the IPD share price, with the company reporting record revenue of $290.4 million in FY 2024, up 28.0% year on year.
Underlying earnings before interest and tax (EBIT) soared 46.6% year on year to $34.3 million.
And underlying net profit after tax (NPAT) came in at $23.3 million, up 44.7% from FY 2023.
This strong result saw the ASX All Ords share declare 10.8 cents a share in fully franked dividends for the 12 month period, up 16.1% from the prior year.
Highlights for the year included a successful $65.0 million capital raising in December.
As at 30 June, IPD had $150.7 million of net assets.
Looking ahead, management said:
The outlook for our markets remains buoyant, driven by the transition to renewable energy, increasing demand from data centres and their energy requirements, the growing number of EV chargers, and a supportive legislative environment.
Which brings us to…
Investors rewarding revenue gains and outlook
The second ASX All Ords share racing ahead of the benchmark on Friday on strong earnings results is Australian Finance Group Ltd (ASX: AFG).
Shares in the mortgage broking company closed yesterday at $1.50. At the time of writing, shares are swapping hands for $1.63 apiece, up 8.7%.
Investors are bidding up the AFG share price after the company reported $1.1 billion in FY 2024 revenue, up 7% from FY 2023.
Reported NPAT went the other direction, sliding 22% year on year to $29 million.
But the ASX All Ords share reported a strong second half, ending the financial year with a combined trail book size of $214 billion.
Meanwhile, operating costs decreased by $3 million year-on-year. And net cash flows from operating activities came in at $39 million on a cash conversion ratio of 107%.
AFG declared a final fully franked dividend of 4 cents per share, bringing the full-year dividend to 8 cents per share. At the current share price, AFG trades on a fully franked dividend yield of 4.9%.
Commenting on the results sending the ASX All Ords share soaring today, AFG CEO David Bailey said:
The 2024 financial year has been a tale of two halves for our business. Our Distribution division recruited strongly, our residential loan book hit a record high $200 billion, and new income streams enabled that part of our business to generate $44 million in profit before tax for the group.
Our Manufacturing division was impacted in the first half by high funding costs and competition heavily skewed towards major lenders.
Looking at what could impact the company in the months ahead, Bailey added, "AFG is in an enviable position, equipped with a competitive edge that positions us well to drive our market share."
