The S&P/ASX 200 index is on form again on Tuesday and on course to record a strong gain. In afternoon trade the benchmark index is up almost 0.7% to 6,510.7 points.
Four shares climbing more than most today are listed below. Here's why they are surging higher:
The Altium Ltd (ASX: ALU) share price has charged over 5% higher to $35.38 following the release of the design software company's full year results after the market close on Monday. In FY 2019 Altium posted a 22.6% lift in full year revenue to US$171.8 million and a 41.1% increase in net profit after tax to US$52.9 million. It also reiterated its target of growing its revenue to US$500 million by FY 2025.
The Kogan.com Ltd (ASX: KGN) share price has surged 7.5% higher to $5.63 after announcing its full year results and revealing gross sales of $551.8 million and NPAT of $17.2 million. This was a 12% and 21.9% increase, respectively, on the prior corresponding period. Pleasingly, FY 2020 has started strongly, with management's trading update revealing gross sales growth of 18.3% and gross profit growth of 32% during July.
The SEEK Limited (ASX: SEK) share price is up over 4% to $19.94 after the release of the job listings company's full year results. In FY 2019 SEEK posted an 18% lift in revenue to $1,537.3 million and a 6% increase in EBITDA to $455 million. The company expects to build on this in FY 2020 and has provided revenue growth guidance in the range of 15% to 18% and EBITDA growth guidance in the range of 8% to 11%.
The Zip Co Ltd (ASX: Z1P) share price has stormed 8.5% higher to $3.27 after announcing the acquisitions of 100% of PartPay and 15% of QuadPay. These acquisitions will give the buy now pay later platform provider access to four new strategic markets – New Zealand, South Africa, United Kingdom, and the United States. Management advised that this marks the beginning of Zip's global expansion story.
