These were the best performing ASX 200 shares in August

These were the best performing ASX 200 shares in August…

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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:

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.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and WiseTech Global. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Blackmores Limited, and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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