The Altium Limited (ASX: ALU) share price has continued its solid run and in afternoon trade reached a new all-time high of $10.65.
This brought the year-to-date return for the software provider's shares to over 31%.
Why are its shares at an all-time high?
Investors have been fighting to get hold of Altium's shares since its full-year results release at the end of August. In fact, since that release its shares have gained over 23%.
And it isn't hard to see why investors were impressed. Altium delivered a 22% increase in net profit after tax to US$28.1 million. On the top line, Altium saw revenue come in 18% higher year-on-year at US$110.9 million
Furthermore, management reiterated its belief that it is on course to almost double its revenue to US$200 million by the end of FY 2020.
Investors appear to believe this level of growth easily justifies the 37x earnings that its shares trade at today.
