In afternoon trade the S&P/ASX 200 index is on course to finish the week on a positive note. At the time of writing the benchmark index is 0.3% higher at 6,521.1 points.
Four shares that have climbed more than most today are listed below. Here's why they have raced higher:
The Accent Group Ltd (ASX: AX1) share price has stormed almost 9% higher to $1.62 following the release of its full year results after the market close on Thursday. The footwear-focused retailer delivered an 8.7% increase in total sales to $935.3 million and a 22.2% jump in statutory net profit after tax to a record of $53.9 million. Solid like for like sales and margin improvement from reduced discounting drove the strong result.
The BINGO Industries Ltd (ASX: BIN) share price has raced 4% higher to $2.33. The catalyst for this appears to be a broker note out of Goldman Sachs this morning. According to the note, its analysts have upgraded this waste management company's shares to a buy rating with a price target of $2.75. It made the move on valuation grounds after a heavy decline following the release of its full year results.
The BWX Ltd (ASX: BWX) share price has rocketed 26% higher to $2.93 following the release of its full year results. Although BWX saw its profits halve in FY 2019, a strong second half and positive guidance for FY 2020 has got investors excited. The company provided guidance for 25% revenue growth and 25-35% EBITDA growth for the year ahead.
The Goodman Group (ASX: GMG) share price is up almost 4.5% to $15.50 after the real estate investment trust released its full year results. Goodman Group reported an 11.4% increase in operating profit in FY 2019. A key driver of this growth was its Property Investment segment which achieved strong returns thanks to like-for-like net property income growth of 3.3%.
