Since the start of the year the S&P/ASX 200 index has recorded a gain of 10.7%. Whilst this is impressive, it is nothing compared to some of the gains that have been made on the index.
Three high-flying ASX shares are listed below. Here's why they have beaten the market in 2019:
The A2 Milk Company Ltd (ASX: A2M) share price has rallied 36% higher since the start of the year. The infant formula and fresh milk company's shares have been on fire since the release of an impressive half year result in February. In the first half of FY 2019 a2 Milk Company posted a 41% increase in revenue to NZ$613.1 million and a 55.1% jump in net profit after tax to NZ$152.7 million. Infant formula sales were the key driver of growth during the half, increasing by a sizeable 45.3% to NZ$495.5 million thanks to strong demand in China.
The Cleanaway Waste Management Ltd (ASX: CWY) share price has raced 37% higher so far in 2019. Investors have been fighting to get hold of the waste management company's shares following the release of another strong half year result in February. During the first half Cleanaway posted a 46.4% increase in gross revenue to $1,149.7 million and a 52.6% lift in underlying net profit after tax to $67 million. The good news for shareholders is that management remains confident of further growth in the second half and beyond.
The Webjet Limited (ASX: WEB) share price has rocketed an impressive 44% higher since the turn of the year. As with the others, the key driver of this share price gain was the online travel agent's half year result. For the six months ended December 31, Webjet delivered a 29% increase in total transaction value to $1.9 billion, a 33% lift in revenue to $175.3 million, and a 42% jump in EBITDA to $58 million. In addition to this, earlier this month the company reiterated its full year EBITDA guidance of at least $120 million, representing a 37% increase year on year.
