The last 12 months have been very eventful for the S&P/ASX 200 Index (ASX: XJO).
After storming notably higher for 9 months, the last three months have wiped out all those gains and more.
Not all shares have been dragged lower during the pandemic, though. In fact, some have even managed to double in value during the period.
Here's why these ASX shares are up more than 100% since this time last year:
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BWX Ltd (ASX: BWX)
The BWX share price is up 136% over the last 12 months. The majority of these gains were made last year when the personal care products company reported a major improvement in its performance after a sustained period of weakness. The company behind the Sukin brand finished FY 2019 strongly and forecast solid growth in the current financial year. It is targeting full year revenue growth of 20% to 25% and earnings before interest, tax, depreciation, and amortisation (EBITDA) growth of 25% to 35%. Positively, this guidance remains in place despite the pandemic.
Codan Limited (ASX: CDA)
The Codan share price is up a solid 123% over the last 12 months. The catalyst for this strong gain has been a jump in the gold price which is driving strong demand for the electronic products manufacturer's metal detectors. For 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. With the gold price remaining at lofty levels, investors appear confident that its metal detectors will remain in demand for the foreseeable future.
Megaport Ltd (ASX: MP1)
The Megaport share price has jumped 133% since this time last year. Investors have been buying the elasticity connectivity and network services company's shares after it continued its remarkable growth in FY 2020. In the first half of FY 2020 Megaport delivered a 70% increase in revenue to $25.9 million. Pleasingly, its strong form has continued in the second half despite the pandemic. In the third quarter its Monthly Recurring Revenue increased 19% over the three months to $5.4 million.
