On Thursday the Australian share market continued its positive run with another solid gain.
While it is still some way off retracing all the declines made during its October meltdown, some shares have not let that hold them back from pushing even higher.
Three shares that reached an all-time high on Thursday are listed below. Is it too late to invest?
The Bravura Solutions Ltd (ASX: BVS) share price hit an all-time high of $4.76 on Thursday. Investors have been fighting to get hold of the shares of the provider of software solutions for the wealth management, life insurance, and funds administration industries due to its strong performance in FY 2018. Last year Bravura Solutions delivered a 15% increase in revenue to $221.5 million and a 27% increase in underlying net profit after tax to $27 million. The catalyst for this strong growth was its Wealth Management segment which delivered a 52% increase in segment EBITDA to $46.2 million thanks to its Sonata platform. Given the long runway for growth that the Sonata product has, I don't think it is too late to invest.
The Citadel Group Ltd (ASX: CGL) share price zoomed to an all-time high of $9.25 yesterday. The software and services company was another strong performer in FY 2018, delivering a 9.8% increase in revenue to $108.5 million and a 26% jump in net profit after tax to $19.4 million. I'm confident that there will be more of the same in FY 2019 for the information management specialist, thanks largely to the growing popularity of its Citadel-IX platform and a growing need for data security.
The Collins Foods Ltd (ASX: CKF) share price continued its solid run and reached an all-time high of $7.09 on Thursday. Investors have been buying shares in a hurry after the quick service restaurant operator announced plans to expand the Taco Bell brand across Australia following a successful trial in Queensland. Investors appear to believe that this and the company's expansion in Europe with the KFC brand will underpin solid earnings growth over the long term. While I think its shares are about fair value now, I still think they could be worth considering for a long-term investment.
