August was a busy month for the Australian stock market with the vast majority of companies announcing their full-year, or half-year, financial results. While the S&P/ASX 200 (INDEXASX: XJO) actually retreated slightly for the month, with investors perhaps a little underwhelmed by some reports, other companies are firing on all cylinders and should be purchased today in my opinion.
Nearmap Limited (ASX: NEA) was one such standout. As a shareholder, you could argue that I have a bias towards the stock, but I couldn't have been more impressed by its performance over FY14. The stock rose as much as 22% upon its announcement, which not only revealed a maiden profit of $7.1 million (up from a loss of $1 million), but also strong prospects moving forward. For instance, while it has performed strongly in the Aussie market, it is also conducting test flights in the United States and continues to develop new products to expand its offerings.
Shine Corporate Ltd (ASX: SHJ) is an Australian litigation company which controls a significant portion of the Personal Injuries market. While the company is expanding into new geographical regions around Australia (e.g. it recently acquired Stephen Browne Personal Injury Lawyers in Western Australia), it is also exploring other practice areas such as environmental law and professional negligence. It was today named by two of my fellow contributors as their Top Stock to buy in September and, being a shareholder myself, I couldn't agree more.
Infomedia Limited (ASX: IFM) smashed earnings and cashflow forecasts when it reported recently which saw its shares jump more than 10%. The company not only maintains a very strong balance sheet but is also expecting strong growth in the coming financial year with all operating segments performing terrifically.
