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Why Nanosonics and these ASX shares have doubled in value in 2019

The All Ordinaries index has been on fire in 2019. Since the start of the year the index has generated a return of almost 22% excluding dividends.

Whilst this is very impressive, some shares on the index have performed even better.

Here’s why these All Ords shares have more than doubled in value this year:

The Bubs Australia Ltd (ASX: BUB) share price has stormed a remarkable 158% higher so far this year. Investors have been buying the infant formula and baby products company’s shares this year due to its exceptionally strong performance in FY 2019. In the fourth quarter of FY 2019, for example, Bubs achieved record quarterly sales of $18.46 million. Impressively, this was more than the entire sales it generated in FY 2018. Which I believe demonstrates the outstanding progress it has made. Another positive was its decision to expand its offering into cow’s milk infant formula. Given how big this addressable market is, it could be a sizeable boost to its sales in FY 2020.

The BWX Ltd (ASX: BWX) share price has returned to form in 2019 and is up 155% since the start of the year. Investors have been buying the personal care products company’s shares since the release of its full year results back in August. Whilst it posted a bitterly disappointing 50% decline in profits, this was actually better than many expected. Furthermore, management’s guidance for 25% revenue growth and 25% to 35% EBITDA growth for FY 2020 appears to show that the company behind the Sukin brand is over the worst of its problems now. If it delivers on its guidance, I suspect its shares could be strong performers in 2020.

The Nanosonics Ltd (ASX: NAN) share price has rocketed 136% higher this year. Another impressive performance in FY 2019 has been the catalyst to this stellar gain. In FY 2019 Nanosonics posted record full year sales of $84.3 million and a record operating profit before tax of $16.8 million. This was a 39% and 120% increase, respectively, on the prior corresponding period. More strong growth is expected in FY 2020. After which, the release of several new products in the near future is expected to bolster its growth from FY 2021 onwards.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia has recommended BUBS AUST FPO and Nanosonics Limited. 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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