Why did these two ASX stocks rise high – Washington H. Soul Pattinson and Co. Ltd and JB Hi-Fi Ltd?

Strong first half: Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) stock rallied over 4.06% on March 23, 2017 driven by their first half of 2017 performance. The group’s net profit after tax (NPAT) enhanced 56.1% year on year (yoy) to $149.0 million for the six months ended at January 2017. Regular profit after tax surged 66.7% yoy to $139.3 million during the period. This increase was driven by better regular contributions from six of WHSP’s seven major strategic investments. New Hope Corporation made a solid contribution driven by better coal prices and its acquisition of an interest in Bengalla.  TPG Telecom Ltd.’s divisions performed well. Brickworks Ltd delivered a solid sales revenue from its building products business and a better contribution from its land and developments divisions. The group also gave a positive outlook and expects the ongoing solid performance in the second half. The group is focusing on the financial services and have made investments in Pengana Capital, Hunter Hall Global Value and Hunter Hall International in the last six months.    

 

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