Insights

Why Bega, Blackmores, IDP Education, & SeaLink shares are zooming higher

Blackmores Limited (ASX:BKL) and IDP Education Ltd (ASX:IEL) are two of four ASX shares zooming notably higher on Wednesday…
The post Why Bega, Blackmores, IDP Education, & SeaLink shares are zooming higher appeared first on The Motley Fool Australia. –

High

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At time of writing, the benchmark index is down 0.95% to 6,775.2 points.

Four ASX shares that have not let that hold them back are listed below. Here’s why they are zooming higher:

Bega Cheese Ltd (ASX: BGA)

The Bega share price has jumped 8% to $6.24. Investors have been buying the diversified food company’s shares following the release of a solid half year result. For the six months ended 31 December, the company reported a 5% decline in revenue but a 98% increase in normalised profit after tax to $29.7 million. This was driven by a more profitable sales mix and an increase in its margins compared to the prior corresponding period. The second half will be boosted by the Lion Dairy and Drinks acquisition, which completed on 25 January.

Blackmores Limited (ASX: BKL)

The Blackmores share price has zoomed 7% higher to $79.47. The catalyst for this was the health supplements company’s much improved performance during the first half. Blackmores reported a 3% increase in revenue of $302.6 million and an 8% increase in underlying net profit after tax to $19.4 million. This allowed the Blackmores Board to reinstate its dividend, declaring a fully franked interim dividend of 29 cents per share.

IDP Education Ltd (ASX: IEL)

The IDP Education share price has raced 9% higher to $27.09. This follows the release of a better than expected half year result this morning. The student placement and language testing company posted a 53% decline in half year earnings per share to 10.9 cents. However, this was a massive 156% ahead of Goldman Sachs’ estimates.

Sealink Travel Group Ltd (ASX: SLK)

The SeaLink share price is up an impressive 16% to $8.19. Investors have been fighting to buy the travel and transport company’s shares after it reported stellar first half revenue and profit growth. SeaLink reported record revenue of $570.8 million, up 329.5% on the prior corresponding period. This was driven largely by the transformational acquisition of the Transit Systems Group in January 2020. Underlying net profit after tax and before amortisation increased 231.9% to $48.1 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Idp Education Pty Ltd. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Bega, Blackmores, IDP Education, & SeaLink shares are zooming higher appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!