With most of Australia celebrating the Queen's 'birthday' today, I thought it might be a good idea to think about some of the best ASX shares profiting in the UK.
Here are three of my favourite choices:
Xero Limited (ASX: XRO)
The cloud accounting software business has conquered New Zealand and Australia but now it's on course to win in the UK as well.
The company recently reported its FY19 result which included an additional 151,000 UK net subscribers, which was fairly close to the total subscribers added from ANZ (193,000).
The UK subscriber growth represented 48% growth of total subscribers to 463,000 and revenue growth of 50%. That's quite impressive considering the numbers that Xero had already achieved.
Xero is looking in good shape with positive free cashflow for the whole year and it made a net profit in the second half of FY19. However, it is trading quite expensively at the moment.
CYBG Plc (ASX: CYB)
The UK bank offers very different banking exposure to most other ASX banks. However, it's no longer such a small bank in the UK after the merger with Virgin Money which is expected to significantly boost the combined bottom line through synergies and economies of scale.
Brexit is putting doubt into the mix about the UK banking sector but over the longer-term CYBG could be a decent diversification bank investment idea away from major and regional ASX banks.
Ramsay Health Care Limited (ASX: RHC)
The private hospital operator has received a major boost after the Liberals won the election, which certainly helps its domestic operations as private health premiums won't be limited.
The company's UK subsidiary generated £209.6 million of revenue in the recent half year result and this continues to grow over the long-term.
Ramsay can benefit in the UK by continuing to open new hospitals and expand current ones whilst benefiting from the ageing population.