The All Ordinaries Index (ASX: XAO) was on form again in August, recording its 11th consecutive monthly gain.
While a large number of ASX All Ordinaries shares were on form over the period, some recorded particularly strong gains.
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Which were the best performing ASX All Ordinaries shares in August?
The best performer on the ASX All Ordinaries last month by some distance was the Novonix Ltd (ASX: NVX) share price with a gain of 75%. This was driven by news that US energy giant Phillips 66 has entered into an agreement to acquire a 16% stake in Novonix. Phillips 66 notes that the investment will expand its presence in the battery supply chain. It will also help advance Novonix's production of synthetic graphite for high-performance lithium-ion batteries.
The next best performing ASX All Ordinaries share was WiseTech Global Ltd (ASX: WTC) with a 57% gain. The logistics solutions company's shares surged higher after reporting an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million in FY 2021. The latter was well ahead of its EBITDA guidance of $165 million to $190 million. Looking ahead, management is expecting further strong growth in FY 2022. It has provided guidance for EBITDA growth of 26% to 38%.
Which other shares performed strongly?
Another ASX All Ordinaries share that caught the eye in August was Ardent Leisure Group Ltd (ASX: ALG). Its shares rose 52.5% over the month, with the majority of this gain coming following the release of its full year results. The Dreamworld and Main Event operator reported a 165.6% increase in EBITDA to $67.3 million for FY 2021 thanks to a strong second half. Pleasingly, management advised that it is optimistic that this positive momentum will continue into FY 2022.
Finally, the PPK Group Limited (ASX: PPK) share price was another highlight on the All Ordinaries with a gain of 49.9% in August. This was despite the investment company experiencing delays in its plans to spin off lithium-sulphur chemistry battery creator Li-S Energy via an IPO. Li-S Energy is expected to list at 85 cents per share, giving it a market capitalisation of around $544 million.
