In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 1% to 8,560.3 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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Alliance Aviation Services Ltd (ASX: AQZ)
The Alliance Aviation share price is up 8% to $2.33. This morning, this aviation services company announced a binding sale and purchase agreement with Beautech Power Systems for the sale of 12 General Electric CF34-10 engines. The total consideration for this transaction is approximately $62.3 million, with the final amount subject to standard adjustments for delivery conditions and exchange rates. Management notes that the sale of these engines will lead to a significant reduction in the net debt position of the company.
Cogstate Ltd (ASX: CGS)
The Cogstate share price is up almost 10% to $1.48. The catalyst for this has been the release of an update on the neuroscience technology company's guidance for FY 2025. Thanks to a stronger than expected finish to the year, Cogstate now expects its revenue to be between US$52 million and US$54 million in FY 2025. This represents a 20% to 24% increase over the previous year. Growing at an even quicker rate is the company's profit. Management advised that profit before tax is forecast in the range of US$12 million to US$14 million. This is a significant improvement of 69% to 97% compared to FY 2024.
Collins Foods Ltd (ASX: CKF)
The Collins Foods share price is up 19% to $8.64. Investors have been buying this KFC restaurant operator's shares after it released its full year results for FY 2025. Collins Foods reported a 2.1% increase in sales to $1,519.5 million but a 14.8% decline in underlying net profit after tax to $51.1 million. Nevertheless, the latter was comfortably ahead of the $44.3 million that analysts at Macquarie were expecting. Looking ahead, the company revealed that it is targeting year-on-year group underlying net profit after tax growth in the low to mid-teens in FY 2026.
Findi Ltd (ASX: FND)
The Findi share price is up 11% to $4.25. This morning, this payments company announced that it has selected DAM Capital Advisors and Ambit Private as book running lead managers for the initial public offering (IPO) of its Indian subsidiary, Transaction Solutions International. Findi's executive chairman, Nicholas Smedley, said: "The selection of DAM Capital and Ambit Private Limited as Book Running Lead Manager for the IPO of TSI is an important milestone in our strategy to bring TSI to the public markets in India and unlock value for Findi shareholders."
