On Friday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) closed the day a fraction higher at 6,066.1 points. This meant the index finished the week with a decline of 5.4 points or 0.1%.
Not all shares dropped lower last week, though. The four shares listed below were the best performers on the ASX 200. Here's why:
The Domain Holdings Australia Ltd (ASX: DHG) share price was the best performer on the ASX 200 last week with a massive 22% gain. Almost all of this gain came on Friday when the property listings company's shares rallied 21% higher following the release of its half year results. Although Domain posted a 12% decline in first half EBIT to $38.4 million due largely to lower listings in the key Melbourne and Sydney markets, I suspect investors were expecting far worse. In addition to this, management advised that it remains confident in its long-term growth prospects.
The Breville Group Ltd (ASX: BRG) share price wasn't far behind with a gain of 21.7% over the week. Investors were fighting to get hold of the appliance maker's shares after its first half results came in ahead of expectation. Breville posted a 15.4% increase in revenue to $440 million and a 19.7% lift in net profit to $43.5 million. A key driver of this growth was its successful expansion into Germany and Austria. Management intends to build on this with the launch of its Sage brand into Belgium, the Netherlands, Luxembourg and Switzerland in April. It then has its eyes on the Spain market in FY 2020.
The Northern Star Resources Ltd (ASX: NST) share price was a strong performer last week with a gain of just under 16%. As with the others, the market responded positively to the gold miner's half year result. Northern Star posted an underlying half year profit of $89.1 million on revenue of $633.5 million, which was an increase of 11% and 43%, respectively, on the prior corresponding period. In addition to this, management advised that it is on track to achieve its full year production guidance.
The Beach Energy Ltd (ASX: BPT) share price was on form last week and recorded a gain of just over 15%. Investors were buying the energy producer's shares after it tripled its underlying half year net profit after tax to $278.8 million. Beach also upgraded its production guidance for the full year from 25-27 MMboe to 28-29 MMboe. This led to analysts at Ord Minnett retaining their buy rating and lifting the price target on its shares to $2.30.
