Three cheers for these S&P/ASX 200 Index (ASX: XJO) shares! They're rocketing more than 9% on Thursday on the release of half-year earnings (and news of a potential spin-off).
Right now, the ASX 200 is up 0.92% at 7,419.5 points.
Let's take a look at what's boosting these two ASX 200 shares sky-high.
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2 ASX 200 shares roaring more than 9% on earnings
The Orora Ltd (ASX: ORA) share price is rocketing 14.7% right now to trade at $3.325 after the company announced a 13.9% jump in revenue.
The sustainable packaging producer posted $2.26 billion of sales revenue and a $108 million statutory net profit after tax (NPAT) – a 7.8% improvement on that of the prior comparable period.
That was despite the business facing inflationary pressures and supply chain issues.
It also declared an 8.5 cents per share interim dividend – a 6.3% lift increase on that of the prior year.
And that's not all.
Orora expects its North America business to continue growing in the second half, while its Australasia leg's full-year earnings are tipped to be broadly in line with those of financial year 2022.
The Abacus Property Group (ASX: ABP) share price is joining its ASX 200 peer in posting a whopping gain right now. It's share price is up 9.1%, trading at $3.11.
The property group revealed an $84.5 million statutory profit this morning – marking a 73% year-on-year fall.
However, its funds from operations lifted 0.4% to $81.4 million. Meanwhile, its interim dividend was boosted 2.9% to 9 cents per share.
Excitingly, the company also flagged a potential spin-off of its Storage King brand.
The proposed Abacus Storage King REIT would hold 127 assets with more than 568,000 square metres of lettable area and 19 developments.
Commenting on the proposed change, managing director Steven Sewell said:
Abacus has deployed over $1.2 billion into self storage assets over the last five years and has determined that the portfolio has reached a scale where it makes most sense to be separately listed with its own capital structure.
