The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for a solid gain today. In afternoon trade the benchmark index is up 0.7% to 5,708 points.
Four shares which have made notably strong gains today are listed below. Here's why they have stormed higher:
The Nextdc Ltd (ASX: NXT) share price has climbed almost 7% to $4.54 following the release of its full-year results. The data centre operator posted an impressive 77% increase in EBITDA to $49 million. This was at the high end of its guidance range of between $46 million and $50 million. I think this strong result goes some way to demonstrating why I think it is one of the best growth shares on the Australian share market.
The Orocobre Limited (ASX: ORE) share price has rocketed 12% to $3.80 after the lithium miner posted a full-year net profit after tax of US$19.4 million. This was a positive turnaround from the US$22 million loss it made in FY 2016. Looking ahead the miner expects production to ramp up 18% in FY 2018 to 14,000 tonnes of lithium carbonate. As well as the strong result, I suspect part of today's gain will be down to short sellers exiting their positions in a hurry.
The OrotonGroup Limited (ASX: ORL) share price has jumped 8% to 85.5 cents after the retailer provided the market with an earnings update. According to the release, Oroton confirms underlying FY 2017 EBITDA will be at the high-end of the previous guidance range of $2 million to $3 million. Furthermore, the company revealed that it has had a strong start to FY 2018 and is experiencing positive like-for-like sales growth.
The Webjet Limited (ASX: WEB) share price is up almost 6% to $11.95 after the online travel agent posted a 58% increase in net profit after tax from continuing operations to $33.1 million. I thought Webjet delivered an impressive result and continue to believe it is one of the best buy and hold options on the local market.
