These growth shares have more than doubled in value in the last 12 months

During the last 12 months the All Ordinaries (Index: ^AXAO) (ASX: XAO) has managed to carve out a gain of just over 3.6% excluding dividends. Including dividends would add an additional 4% to this gain by my calculation.

While this is a solid gain, it pales in comparison to some of the individual gains being made on the index.

Here are two shares that have more than doubled in value during the last 12 months.

The Ltd (ASX: KGN) share price has rocketed an incredible 405% since this time last year thanks to its continued outperformance of its prospectus forecasts. Last week the e-commerce company reported a 45.7% increase in first-half revenue to $209.6 million and a whopping 118.9% increase in half-year net profit after tax to $8.1 million. This meant that Kogan’s first-half profit was 12.5% higher than the total profit it made in the whole of FY 2017.

With results like that and its expansion into insurance, mobile phone plans, and NBN plans, it isn’t hard to see why investors have been fighting to get hold of shares. If this expansion proves successful then I suspect Kogan could continue it outperformance.

The Lovisa Holdings Ltd (ASX: LOV) share price has climbed 133% over the last 12 months following a series of impressive results. Most recently the jewellery retailer reported half-year revenue of $118.6 million and net profit after tax of $24.8 million. This was an 18.9% and 22.5% increase, respectively, on the prior corresponding period. A 10.8% increase in its store network certainly played a key role in this solid performance, but so did an impressive 7.4% lift in like-for-like sales.

With the company expanding its footprint greatly in the UK and recently opening its first store in the United States, I think Lovisa has all the hallmarks of being another Premier Investments Limited (ASX: PMV). While at 27x trailing earnings its shares are not necessarily cheap, I think they are still great value for a patient long-term investment.

Could these top growth shares be the next ones to deliver incredible returns? I think they could be.

Top 3 ASX Blue Chips To Buy In 2018

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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