The All Ordinaries index has been on fire in 2019 and recently reached an all-time high.
As you would expect, this means that a large number of shares have been charging higher since the start of the year.
Three that have really stood out this year are listed below. Here's why they have doubled in value year to date:
The Austal Limited (ASX: ASB) share price is up 108% since the start of the year. The catalyst for this impressive gain has been the shipbuilder's positive performance this year and its outlook for the year ahead. In FY 2019 the company expects to deliver earnings before interest and tax (EBIT) of $92 million. Whereas next year Austal expects its strong form to continue and advised that it has forecast EBIT rising 14% to $105 million. This is largely down to an improvement from its Australasia shipyards.
The Bubs Australia Ltd (ASX: BUB) share price has been one of the best performers on the All Ordinaries index with a gain of 175% year to date. A series of positive updates and developments have led to its shares rocketing higher this year. The most recent update was its fourth quarter release which revealed that the infant formula and baby food company had seen its sales hit a quarterly record of $18.46 million. This was more than its entire sales in FY 2018 and lifted its full year gross revenue up to $51.3 million, which is a massive 179% increase on the previous year.
The Nearmap Ltd (ASX: NEA) share price has been a strong performer again this year with a gain of 116%. Investors have been fighting to get hold of the aerial imagery technology and location data company's shares thanks to its strong sales growth. In FY 2019 the company reported record annualised contract value (ACV) of $90.2 million. This was a 36% increase year on year and was driven largely by further explosive growth in the United States. The good news is that with new product launches and potential expansions into new territories, Nearmap looks well-positioned to repeat this strong form in FY 2020.
