The S&P/ASX 200 Index (ASX: XJO) was on form again in August and recorded its 11th consecutive month of gains. The benchmark index rose 1.9% to end the period at 7,534.9 points.
While a good number of ASX 200 shares climbed higher last month, some climbed more than most. Here's why these were the best performing ASX 200 shares in August:
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WiseTech Global Ltd (ASX: WTC)
The WiseTech share price was the best performer on the ASX 200 in August with a whopping 57% gain. The main driver of this gain was the release of a stronger than expected full year result for FY 2021. For the 12 months ended 30 June, the logistics solutions company delivered an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million. This was in line with its revenue guidance of $470 million to $510 million and well ahead of its EBITDA guidance of $165 million to $190 million. Pleasingly, more of the same is expected in FY 2022. Management has provided EBITDA guidance of 26% to 38% growth.
Afterpay Ltd (ASX: APT)
The Afterpay share price wasn't too far behind with a gain of 39.2% over the month. Investors were buying the buy now pay later (BNPL) provider's shares after it received a $39 billion takeover proposal from US payments giant Square. The Afterpay Board is recommending investors accept the offer of 0.375 shares of Square Class A common stock for each Afterpay share they hold. On the day of the offer, this implied a transaction price of approximately $126.21 per Afterpay share.
Blackmores Limited (ASX: BKL)
The Blackmores share price was on form last month and recorded a 37.4% gain over the period. Investors were buying the health supplements company's shares following the release of its full year results. For the 12 months ended 30 June, Blackmores reported a 1.3% increase in revenue to $575.9 million and a 51.7% jump in underlying net profit after tax to $25.4 million.
Clinuvel Pharmaceuticals Limited (ASX: CUV)
The Clinuvel share price was a strong performer in August, rising a sizeable 35.6%. The catalyst for this was the biopharmaceutical company's full year results for FY 2021. For the 12 months ended 30 June, Clinuvel reported a 43% increase in revenue to $48.5 million and a 63.5% jump in net profit after tax to $24.7 million. This went down well with analysts at Jefferies. In response, the broker upgraded the company's shares to a buy rating with a $36.80 price target.
