On Thursday the S&P/ASX 200 index continued its positive run and climbed to a new record high. Unsurprisingly, a number of shares on the benchmark index were pushing higher along with it.
Three ASX 200 shares that reached highs or their own are listed below. Here’s why they are on form right now:
Accent Group Ltd (ASX: AX1)
The Accent Group share price surged to an all-time high of $2.18 on Thursday. Investors were fighting to get hold of the footwear-focused retailer’s shares after the release of its half year results. Accent Group overcame the tough trading conditions in the retail sector to post EBITDA growth of 10.5% to $67.7 million and net profit after tax growth of 9.7% to $35.3 million. This was driven by store openings, strong online sales growth, and a 2.4% increase in like for like sales. The retailer also lifted its interim dividend by almost 17% to a fully franked 5.25 cents per share.
Aristocrat Leisure Limited (ASX: ALL)
The Aristocrat Leisure share price continued its positive run and hit a new all-time high of $38.23 yesterday. Investors were buying the gaming technology company’s shares after it reaffirmed its guidance for FY 2020 at its annual general meeting in Sydney. Management appears confident that all areas of the business will continue to grow over the next 12 months. It also advised that it doesn’t expect the coronavirus outbreak to have a materially adverse impact on its business.
Coca-Cola Amatil Ltd (ASX: CCL)
The Coca-Cola Amatil share price stormed higher and hit a multi-year high of $13.09 on Thursday. The catalyst for this strong rise was the release of the beverage company’s full year results. Coca-Cola Amatil beat the market’s expectations by reporting a solid 6.5% increase in total revenue from continuing operations to $5,112.1 million. This came in ahead of consensus estimates and was driven by solid volume growth in the key Australian market thanks to the success of the Coca Cola No Sugar brand. Looking ahead, following the completion of its two-year transition period, management revealed that it expects mid-single digit earnings per share growth in FY 2020.
These 3 stocks could be the next big movers in 2020
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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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