In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decline. At the time of writing, the benchmark index is down 0.55% to 8,340.6 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
The Catapult share price is up a further 7% to $5.25. This sports technology company's shares have rocketed higher this week following the release of its full year results. Catapult recorded a 19% increase in revenue (in constant currency) to US$116.5 million (A$185 million) and an 18% lift in annual contract value (ACV) to US$101.2 million (A$161 million). This underpinned the more than tripling of management EBITDA to US$14.8 million (A$24 million).
The Hutchison Telecommunications share price is up almost 48% to 3.1 cents. This follows news that Hutchison Telecommunications (Amsterdam), which is an indirect wholly owned subsidiary of CK Hutchison, intends to make an off-market takeover bid for all shares it does not already own. A takeover price of 3.2 cents per share will be tabled, which represents a 52.4% premium to its last close price. In response, management said: "The HTAL Board has established a committee of HTAL's independent directors, Justin Gardener and John Scanlon, (Independent Board Committee or IBC) to evaluate and respond to the Offer. The IBC recommends that shareholders TAKE NO ACTION in relation to the Offer at this stage. The IBC is currently considering the Offer and will update shareholders in due course."
The SKS Technologies share price is up 24% to $1.90. This has been driven by news that the electrical, audio visual, and communication networking solutions provider has won a new $100 million data centre contract. CEO, Matthew Jinks, said: "The awarding of this project with Erilyan Group underscores our unerring focus on excellence in project execution. The frequency of repeat business has always been a feature of SKS Technologies' operational performance and is founded on a proactive approach to communicating with our customers and an execution framework designed to deliver complex projects to their optimal level."
The West African Resources share price is up 3% to $2.57. This morning, this African-based gold miner announced that it has intersected high grade gold mineralisation at its Sanbrado Gold Operations in Burkina Faso. West African chairman Richard Hyde said: "Results from the recent drilling are expected to deliver an increase in both tonnes and contained gold in comparison to the 2024 resource model. Updated Mineral Resources and Ore Reserves and a new 10-year production outlook are planned for release in Q3 2025."
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