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These ASX shares are up over 50% in 2018

Due to the recent market volatility, year to date the All Ordinaries (Index: ^AXAO) (ASX: XAO) is down a disappointing 6.6%.

Fortunately, not all shares have fallen along with the index. The three shares below have been market-beaters with gains of 50% or more in 2018. Here’s why:

The Accent Group Ltd (ASX: AX1) share price is up 69% so far in 2018. At the start of the year there were concerns that this footwear retailer could be negatively impacted by Amazon’s arrival in Australia. Thankfully this hasn’t been the case and the company has continued to deliver solid growth. In fact, last month the company advised that the first 20 weeks of FY 2019 have been “materially stronger” than expected. As a result, first half EBITDA is expected to be between 15% and 20% higher than the prior corresponding period.

The Altium Limited (ASX: ALU) share price has gained an impressive 65% since the start of the year. Investors have been fighting to get hold of the leading electronic PCB software company’s shares because of its strong sales growth in FY 2018 and positive long-term prospects due to its exposure to the Internet of Things boom. I think a testament to the quality of its product is the fact that the company counts the likes of John Deere, BMW, NASA, Tesla, Apple, Google and Space X as customers.

The Saracen Mineral Holdings Limited (ASX: SAR) share price has stormed 54% higher this year. While market volatility has helped lift gold miner shares this year, Saracen has outperformed its peers thanks to its impressive operational and financial performance. In FY 2018 the company’s gold production reached a record 316,453 ounces. This led to revenues jumping 21% to $511 million and net profit rocketing 175% higher to $78 million. Management expects its production to increase to between 325,000 and 345,000 ounces in FY 2019.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Accent Group. 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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