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 1.05% to 9,102.8 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are racing higher:
Image source: Getty Images
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up 13% to $97.73. This follows the release of the investment platform provider's half-year results. Hub24 reported a 26% increase in revenue to $245.9 million and a 60% jump in underlying net profit after tax to $68.3 million. The company's managing director and CEO, Andrew Alcock, commented: "These results demonstrate our continued momentum, with record net inflows and strong progress in delivering our strategy to create value for customers and shareholders. Our recognition again as Australia's best platform reflects our commitment to delivering innovative solutions that enable advisers to support the needs of their clients throughout their life stages and empower better financial futures for more Australians, which is now more important than ever."
Sonic Healthcare Ltd (ASX: SHL)
The Sonic Healthcare share price is up 13% to $24.03. Investors have been buying the healthcare company's shares following the release of its half-year results. Sonic posted a 17% increase in revenue to $5.45 billion and an 11% lift in net profit to $262 million. This allowed the company's board to declare an interim dividend of 45 cents per share, which was up 2.3% on last year. Sonic Healthcare's CEO, Dr Jim Newcombe, said: "Sonic Healthcare's first half result demonstrated the strength and global diversity of the group's operations. We consistently deliver high-value medicine to our global communities and are a trusted partner for doctors, patients and healthcare systems."
Telstra Group Ltd (ASX: TLS)
The Telstra share price is up 5% to $5.21. This has been driven by the release of a solid half-year result from the telco giant this morning. For the six months ended 31 December, Telstra reported a 14% increase in cash EBIT. This underpinned an increase in its interim dividend to 10.5 cents per share (from 9.5 cents per share). Telstra's CEO, Vicki Brady, said: "We delivered ongoing growth in earnings, reflecting momentum across our business, strong cost control and disciplined capital management."
Universal Store Holdings Ltd (ASX: UNI)
The Universal Store share price is up 6.5% to $8.95. Investors have been buying the youth fashion retailer's shares after it impressed with its half-year results. Universal Store posted a 14.2% increase in sales over the prior corresponding period to $209.6 million. Growing even stronger was the company's underlying net profit, which was up 22% to $28.3 million.
