While the likes of TPG Telecom Ltd (ASX: TPM) and Telstra Corporation Ltd (ASX: TLS) will take the headlines today with their strong share price gains, they aren't the only shares on the rise.
Three shares on the rise at the small end of the market are listed below. Here's why they are pushing higher:
The Compumedics Limited (ASX: CMP) share price has risen 10.5% to 52 cents after the medical device company announced an 8% increase in revenues for shipped and invoiced sales to $37 million and a 133% jump in net profit after tax in FY 2018. Management also provided a positive outlook for the year ahead with revenue guidance of $40 million to $42 million and net profit after tax guidance of $4 million to $5 million. While this was a solid result and its guidance was strong, I would suggest investors keep their powder dry until its China joint venture is confirmed. Earlier this month the company's shares fell sharply after advising that unexpected complexities had arisen leading to a decision on the joint venture being pushed back to between late September and mid-November.
The Oncosil Medical Ltd (ASX: OSL) share price has pushed 5% higher to 22 cents after the medical device company focused on localised treatments for patients with pancreatic and liver cancer announced the appointment of IQVIA in Europe. IQVIA will be its Market Access and Reimbursement advisor for the OncoSil device in EU markets including France, UK, Germany and the Nordic countries. IQVIA is a NYSE-listed global provider of advanced analytics, technology solutions, and contract research services to the life sciences industry.
The Ramelius Resources Limited (ASX: RMS) share price has risen 6.5% to 49.5 cents after the gold miner delivered a 74% increase in full year profit to $30.8 million. This was driven by record gold production of 208,188 ounces in FY 2018, up 66% on the prior year. Management expects another year of record production in FY 2019 and has guided to 200,000 to 220,000 ounces of the precious metal being produced at an all-in sustaining cost of $1,150 to $1,250 an ounce.
