Since the start of the year the All Ordinaries index has stormed over 20% higher excluding dividends.
Whilst this is undoubtedly an impressive gain, a number of shares on the index have performed even better.
Here's why these three All Ords shares have been on fire this year:
The Austal Limited (ASX: ASB) share price is up a massive 114% since the start of the year. Investors have been buying this shipbuilder's shares thanks to an impressive performance in FY 2019 driven largely by its US shipyard business which is building a number of military vessels for the US Navy. In FY 2019 Austal posted a 64% increase in net profit to $61.4 million. The good news is that more growth is expected in FY 2020, with management providing earnings before interest and tax guidance of at least $105 million. This will be a year on year increase of 13%.
The Fortescue Metals Group Limited (ASX: FMG) share price has been an impressive performer this year with a gain of 134%. The catalyst for this has been a significant rise in the price of iron ore. The price of the steel making ingredient has risen strongly this year due to a combination of growing demand in China and supply issues in both Brazil and Australia. This led to Fortescue delivering a record full year profit and allowed it to reward shareholders handsomely with very generous dividends.
The WiseTech Global Ltd (ASX: WTC) share price has raced 102% higher in 2019. Investors have been fighting to get hold of the logistics solutions company's shares this year after it delivered another record result. Due to increasing demand for its platform from many of the biggest logistics companies in the world and its extremely low customer churn rate, WiseTech Global recorded a 57% increase in total revenue to $348.3 million and a 33% lift in net profit after tax to $54.1 million. Pleasingly, another strong year is expected in FY 2020, with management providing guidance for revenue growth of 26% to 32% and EBITDA growth of 34% to 42%.
