Since the start of the year the All Ordinaries index has generated a return of 22.8% excluding dividends.
Whilst this is a fantastic return, some shares on the index have performed even better.
Here's why these 3 All Ords shares have doubled in value in 2019:
BWX Ltd (ASX: BWX)
The BWX share price is up an impressive 188.5% since the start of the year. The personal care products company's shares have been storming higher thanks to its performance in the second half of FY 2019. Although this wasn't enough to stop the company from reporting a sharp decline in full year profits, it was a material improvement on the disastrous first half. Also catching the eye of investors was management's guidance for the year ahead. It expects its positive second-half momentum to carry over into FY 2020. As a result, it has provided guidance for 25% revenue growth and 25% to 35% EBITDA growth. Investors appear to believe the company behind the Sukin range is now over the worst of its issues.
Fortescue Metals Group Limited (ASX: FMG)
The Fortescue share price has stormed a whopping 184% higher in 2019. The catalyst for this strong gain has been a sharp rise in the price of iron ore due to a combination of solid demand and supply disruptions. Another positive has been management's focus on improving the grade of its iron ore, which has allowed Fortescue to benefit even more from the higher prices. This has ultimately led to the iron ore producer generating significant free cash flows, allowing it to pay down debt and reward shareholders with generous dividends.
Kogan.com Ltd (ASX: KGN)
The Kogan share price surged 131% higher in 2019. The ecommerce company's shares have been strong performers this year thanks to a positive second-half to FY 2019 and an impressive start to the new financial year. In the first quarter of FY 2020 Kogan delivered a 16% increase in gross sales and a 28% lift in gross profit. Also going down well with investors was management's costs control. Kogan's operating costs grew less than 3% over the prior corresponding period. Another positive was CEO Ruslan Kogan speaking very positively about the future. He appears confident that Kogan is well-placed to continue this strong growth for the foreseeable future.
