Over the last 12 months there have been some outstanding performers on the Australian share market.
Some shares have beaten the market with solid gains and others have absolutely smashed it with mouth-watering gains.
Here's why these All Ordinaries shares have more than doubled in value over the last 12 months:
Codan Limited (ASX: CDA)
The Codan share price is up an impressive 133% over the last 12 months. Investors have been buying the electronic products manufacturer's shares thanks to its strong performance in FY 2019 and its very positive start to FY 2020. In respect to the latter, during the first half of FY 2020, Codan delivered revenue of $171 million and EBITDA of $54 million. This was a 33% and 42% increase, respectively on the prior corresponding period. This strong performance has been driven largely by increasing metal detector sales due to a rise in the gold price.
Megaport Ltd (ASX: MP1)
The Megaport share price has been one of the best performers on the market over the last 12 months with a gain of 143%. Investors have been buying the shares of the leading provider of elastic interconnection services due to its impressive growth. Pleasingly, this has continued in FY 2020, with the company recently releasing its half year results for the six months ended December 31. Megaport reported revenue of $25.9 million, which was an increase of 70% on the prior corresponding period. Also growing strongly was its total Monthly Recurring Revenue (MRR), which climbed to $4.6 million at the end of December. This was an increase of $1.9 million or 68% from a year earlier. Finally, Megaport generated a profit after direct network costs of $13.2 million for the half year, which was an increase of $8.3 million or 173%.
Paradigm Biopharmaceuticals Ltd (ASX: PAR)
The Paradigm Biopharmaceuticals share price has been a very positive performer over the last 12 months with a gain of 125%. The catalyst for this was excitement over the biopharmaceutical company's promising ZILOSUL product. ZILOSUL is the brand name of its repurposing of Pentosan Polysulfate Sodium (PPS). This is an FDA-approved drug that has been used safely for treating inflammation for over 60 years. The company is repurposing PPS to treat osteoarthritis (OA), which is a very lucrative market. Management estimates it could be worth as much as US$27.9 billion per annum in the United States.
