In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.5% to 8,493.8 points.
Four ASX shares that are not letting that hold them back today are listed below. Here's why they are surging:
A2 Milk Company Ltd (ASX: A2M)
The A2 Milk share price is up a further 2.5% to $7.30. Investors have been buying this infant formula company's shares since the release of its half year results on Monday. A2 Milk impressed with its 10.1% increase in revenue to NZ$893.8 million and 5% lift in EBITDA to NZ$118.9 million. But getting investors the most excited was management upgrading both its revenue and EBITDA margin guidance. It now expects revenue growth of low to mid double-digit growth (from mid to high single-digit growth) with an EBITDA margin slightly up year on year (from being broadly in line). In addition, A2 Milk declared its first ever dividend.
HMC Capital Ltd (ASX: HMC)
The HMC Capital share price is up 13% to $11.18. This morning, HMC Capital reported a 240% increase in first half pre-tax operating earnings to $202.2 million and a 204% jump in pre-tax operating earnings per share to 51.9 cents. Goldman Sachs was impressed. Commenting on the result, it said: "HMC reported 1H25 earnings of A$140.5 mn which were up significantly hoh and materially/+14.1% higher than GSe/VAe driven by stronger than expected management fees and investment income partially offset by higher than expected operating expenses. HMC announced an interim 1H25 dividend of A6.0c (100% franked, in-line with GSe/VAe)."
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up 7.5% to $87.48. This follows the release of the investment platform provider's half year results. Hub24 reported a 25% increase in total revenue to $195.2 million and a 41% year on year increase in underlying EBITDA to $77.6 million. Also going down well with investors was management's outlook commentary. It has upgraded its platform funds under administration (FUA) target for FY 2026 from the range of $115 billion to $123 billion to the new range of $123 billion to $135 billion.
Judo Capital Holdings Ltd (ASX: JDO)
The Judo Capital share price is up 11% to $2.15. Investors have been buying the small business lender's shares following the release of its half year results. Judo Capital posted a 33% increase in underlying profit before tax to $56.7 million and a 70% jump in statutory net profit after tax to $40.9 million. Supporting this strong result was a 9% increase in gross loans and advances to $11.6 billion (2x sector growth) and net interest margin of 2.81%.
