Today is the final official day of reporting season, although there are a few more to come over the next month.
This reporting season has been the most volatile in recent memory, with more double digit share price reactions than usual. Both positive and negative reactions have been strong.
Of the positive reactions, these three were my favourite:
Flight Centre Travel Group Ltd (ASX: FLT)
Flight Centre rose by over 10% on the day of its report and has continued to grow in price to $59 today.
It has made it into my top three because I wrote Flight Centre off a few years ago. I thought it was consigned to a disappointing future because of its large bricks and mortar presence which would mean its earnings would steadily decline.
It may still face difficulty in the future, but I didn't expect this turnaround over the past year. Net profit after tax (NPAT) growth of 37% is impressive for any company, particularly one as old as Flight Centre.
Altium Limited (ASX: ALU)
Altium has been one of the top-performing shares over the past six years and it doesn't seem to be showing any signs of stopping, in-fact its revenue and profit seem to be accelerating.
Revenue growth of 30%, NPAT growth of 51% and earnings per share (EPS) growth of 50% are all wonderful statistics and the market loved it. The share price has grown to above $20, it was around $7 a year ago.
The Internet of Things growth is driving Altium's business higher and there could be plenty more strong growth to come over the next few years.
a2 Milk Company Ltd (ASX: A2M)
Every six months I think that surely a2 can't deliver another huge result to justify its high valuation. Yet, every six months it does exactly that.
Revenue grew by 70%, NPAT rose by 150% and EPS grew by 147%. This growth is on top of several years of impressive growth.
It's a wonderful business and it shows no sign of stopping. I can understand why investors have sent the share price above $12. It was only a year ago that the share price was $2.21.
Perhaps, finally, this share price valuation is too high and it will trip up at the next report, but I wouldn't want to bet on that.
Foolish takeaway
There were other strong results but it was these three that impressed me the most because of how much they beat my, and the market's, expectations.
