Over the last 12 months the All Ordinaries index has had a tough time and is down 4.4% excluding dividends.
Three shares that have not let that hold them back are listed below. Here's why they have more than doubled in value during this time:
The Bravura Solutions Ltd (ASX: BVS) share price has been a top performer over the last 12 months with a stunning 104% gain. The provider of software products and services to clients operating in the wealth management and funds administration industries caught the eye of investors last year with an impressive full year result. Strong demand for its key Sonata platform led to the company posting a 27% increase in underlying net profit after tax in FY 2018. Pleasingly, with demand for Sonata remaining strong, management expects the company to follow this up with mid-teen earnings per share growth in FY 2019. Despite its impressive run its shares are priced at 32x earnings currently, which I think is fair for a company with such a positive growth profile.
The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price has rocketed 151% higher since this time last year. One of the catalysts for this gain has been the impressive sales growth of its SCENESSE product. SCENESSE has been developed as a first-line pharmaceutical product aimed at treating patients with the rare genetic disorder erythropoietic protoporphyria (EPP). In the September quarter the company posted cash receipts from customers of $10.75 million, an 89% increase compared to the same quarter last year. The good news is that these cash receipts could be given a major boost in the coming quarters. Last week the company advised that the US Food and Drug Administration has granted a Priority Review for SCENESSE on July 8. If it can satisfy the FDA's requirements it could mean the drug goes on sale in the United States in the near future. I think Clinuvel is one to watch.
The Nearmap Ltd (ASX: NEA) share price has rocketed 189% over the last 12 months. Investors have been fighting to get hold of the geospatial map technology company's shares due to the positive progress it made in the key U.S. market in FY 2018. Pleasingly, Nearmap has built on this in FY 2019. Last week it released its preliminary half year results and revealed that annual contract value (ACV) was up 42% in the first half to $78.3 million. This was driven by a 107% increase in U.S. ACV and a 23% lift in Australian ACV. I'm a big fan of the company but I feel that its shares are fully valued now, so would suggest investors wait for a pull back before buying shares.
