Since the start of the year the All Ordinaries index has been in fine form and recorded an impressive gain of 19.5%.
Whilst that is undoubtedly strong, a number of shares on the index have performed even better.
Some have even tripled in value since the start of the year. Here's why these three shares have gone gangbusters in 2019:
The Jumbo Interactive Ltd (ASX: JIN) share price has rocketed 264% higher year to date. Investors have been buying the lottery ticket seller's shares this year following further impressive growth in FY 2019. For the 12 months ended June 30, Jumbo delivered a 75% increase in total transaction value to $321 million, a 64% jump in revenue to $65 million, and a massive 124% lift in net profit after tax to $26.4 million. This positive performance and its strong share price rise led to S&P Dow Jones Indices recently announcing its addition to the coveted S&P/ASX 200 index at this month's rebalance. This appears to have led to an increase in demand for its shares from exchange traded funds and fund managers that may have investment mandates which permit them to only buy shares on certain indices.
The Pro Medicus Limited (ASX: PME) share price has zoomed a massive 205% higher since the start of the year. The health imaging company's shares have been on fire this year thanks largely to its impressive increase in profits in FY 2019. In FY 2019 Pro Medicus posted a profit of $19.1 million, which was 91.9% higher than the prior corresponding period. In addition to this, the company's inclusion in the benchmark S&P/ASX 200 index at the June quarterly rebalance also gave its shares a big lift.
The Zip Co Ltd (ASX: Z1P) share price has gained a whopping 256% in 2019. As with the others, an impressive result in FY 2019 has been a key driver of its strong share price gain this year. In FY 2019 Zip Co reported a 138% increase in revenue to $84.2 million thanks to strong customer growth and a 108% lift in transaction volume through its platform to $1,128.5 million. And with management aiming to almost double both its active customer numbers and annualised transaction volume in FY 2020, investors appear confident that this payments company will deliver another strong result next year.
