Shares of GUD Holdings (ASX:GUD) experienced a significant surge of up to 14.9% to A$11.74, registering the largest intraday gain the company has seen since December 8, 2008.

The automotive parts manufacturer reported an annual underlying net profit after tax of A$118.7 million, an increase of 33% from the A$89.3 million the previous year, exceeding UBS estimates by 3%.

The company also declared a final dividend of 22 Australian cents per share, consistent with the previous year.

GUD’s AutoPacific Group division is projected to generate additional revenue and EBITA growth in FY24, according to the company.

The stock reached its highest price since June 1, 2022 due to the recent earnings report.

Over 620,000 shares were traded, a considerable increase compared to the 30-day average volume of roughly 316,000 shares.

Year-to-date, GUD Holdings stock has surged 34.8% as of the last closing price.

GUD Holdings is an automotive parts manufacturer.