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Why ALS, Costa, Superloop, and Worley shares are charging higher

These ASX shares are on form on Wednesday…
The post Why ALS, Costa, Superloop, and Worley shares are charging higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.75% to 7,183.3 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

ALS Ltd (ASX: ALQ)

The ALS share price is up over 2.5% to $12.08. This follows the release of the testing solutions company’s full year results this morning. ALS revealed a 23.9% increase in revenue to $2,182.3 million and a 42.1% jump in underlying net profit after tax of $264.2 million. The latter was at the top end of its $260 million to $265 million guidance range.

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is up 7.5% to $3.13. This morning the horticulture company released a trading update at its annual general meeting. That update was relatively positive throughout and revealed that Costa remains on track to deliver on its previous guidance for calendar year 2022.

Superloop Ltd (ASX: SLC)

The Superloop share price is up 4% to 82 cents. Investors have been buying this telco’s shares after it announced the acquisition of white label broadband provider Acurus for $15 million. The acquisition is expected to allow Superloop to expand white label broadband relationships and deliver profitable growth in its subscriber base. Acurus’ white label platform supports the internet offerings behind major brands such as Energy Australia and Officeworks.

Worley Ltd (ASX: WOR)

The Worley share price is up 2% to $15.04. The catalyst for this was the announcement of two new contract wins. The first is the award of a contract for the fourth expansion of an integrated polyolefins complex in Ruwais, United Arab Emirates. The other is a contract by Heartwell Renewables for field engineering services for a greenfield renewable diesel plant in Hastings, Nebraska.

The post Why ALS, Costa, Superloop, and Worley shares are charging higher appeared first on The Motley Fool Australia.

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More reading

ASX 200 midday update: BHP and Pilbara Minerals shares tumble
3 ASX All Ordinaries shares smashing multi-year highs on Tuesday
These ASX All Ordinaries shares have the greatest margin risks from surging inflation: UBS
3 ASX 200 shares smashing multiyear highs on Wednesday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended SUPERLOOP FPO. The Motley Fool Australia has recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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