The All Ordinaries Index (ASX: XAO) is down 0.2% on Monday, but that's not holding back this soaring ASX All Ords share.
The outperforming company in question is Fleetpartners Group Ltd (ASX: FPR).
Shares in the vehicle fleet leasing and management company closed Friday trading for $2.96. In late morning trade today, shares are swapping hands for $3.25 apiece, up 9.8%.
Here's what's stoking investor interest.
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ASX All Ords share on the growth path
The ASX All Ords shares is flying higher today on the back of the company's full-year FY 2024 results.
On the growth front, Fleetpartners reported $924 million of new business writing, up 21% from FY 2023.
Management attributed this success to "the strong execution of Strategic Pathways", alongside ongoing improvements in the supply of new vehicles. Strategic Pathways refers to the company's strategy to drive increased growth.
The company also reported record assets under management or financed of $2.3 billion, 11% higher than in September 2023.
In other core financial metrics, net operating income (pre end of lease income and provisions of $158.7 million) was up 5% year on year. End of lease income was down 4% to $70.6 million.
Meanwhile, net profit after tax (excluding amortisation) of $87.7 million slipped 1% from FY 2023.
Full-year profits were impacted by a 6% increase in operating expenses to $89.2 million, though management flagged that expenses came in at the lower end of expectations amid the company's ongoing focus on cost management.
The ASX All Ords share also announced a 1H 2025 share buyback of up to $30 million.
Since launching its share buyback program in FY 2021, Fleetpartners noted that it has returned $225 million to shareholders and cancelled 90 million shares. That represents 29% of the shares on issue when the buyback program kicked off.
Now what?
Looking to what could impact the ASX All Ords share in the year ahead, the company reported it is in a strong position from a financial and strategic perspective. Fleetpartners has no net debt, with net cash of $31.3 million.
"New business writing is showing significant strength, which is expected to support continued asset and revenue growth in future periods," management stated.
For FY 2025, management added:
The group plans to continue its focus on EPS [earnings per share] growth through disciplined capital management, including on-market share buy-backs and investment in strategic opportunities such as Accelerate, that are expected to deliver strong returns and sustainable EPS benefits for shareholders.
With today's gains factored in, the ASX All Ords share is up 15% over 12 months.
