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The best performing stocks in the ASX 200

While the S&P/ASX 200 index (Index: ^AXJO) (ASX: XJO) has wobbled in recent weeks as bullish sentiment has waxed and waned, the index has still risen about 17% in the last 12 months.

However, a number of companies have fared far better, trumping the overall index. Here are the two of the top performers in the ASX 200 – in terms of share price appreciation – in the last twelve months.

MFG, FLT vs XJO last 12 months

#1: Magellan Financial Group

Shares of Magellan Financial Group (ASX: MFG) have been going great guns, climbing a massive 326% over the last 12 months.

In the most recent half, Magellan Financial Group grew revenue by 112%, from $15.5 million in the previous correspond period to $32.9 million, while net operating profit after tax grew from $5.2 million to over $15 million.

The Sydney-based funds manager operates three global-oriented investment funds and is led by chief executive Hamish Douglass, recently named one of Australia’s 10 best performing CEOs by The Australian Financial Review. In an accompanying interview, Douglass told that publication that Magellan has the potential to grow funds under management “from $11 billion now to $30 billion.”

Continued growth in assets under management (and performance fees) should lead to continued revenue and profit growth, though much of this seems already baked into the share price, with MFG shares now trading for nearly 60 times earnings.

#2: Flight Centre (ASX: FLT)

Flagship Australian travel company Flight Centre (ASX: FLT) has also had an incredible year – with its shares rising well over 100% — as the stock has recovered from lingering market fears about the viability of Flight Centre’s primarily brick-and-mortar based business in the age of the internet. Most recently, the company upgraded earnings – against a background of around 100 Australian companies issuing downgrades – demonstrating its resilience in the face of a slowing domestic economy and a falling Australian dollar.

Today, shares of Flight Centre are trading for around 18 times earnings, a relatively reasonable multiple given the company’s prospects for growth as it expands internationally, including in the U.S. and in China.

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Motley Fool contributor Catherine Baab-Muguira has no financial interest in any company mentioned in this article.

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