With only a few hours left in the trading week, the S&P/ASX 200 Index (ASX: XJO) is up 0.7% since last Friday's close, but these 2 ASX 200 shares left those gains wanting.
At the time of writing, both stocks are up a rounded 18% for the week.
Which stocks am I talking about, and how did they manage this outperformance?
I'm glad you asked!
Image source: Getty Images
Two ASX 200 shares racing ahead of the benchmark this week
The first ASX 200 share investors will be glad they owned this week is Downer EDI Ltd (ASX: DOW).
Shares in the integrated services provider closed last Friday trading for $4.83. At the time of writing, shares are swapping hands for $5.70 apiece, up 17.9%.
Downer shares finished in the red for the last three trading days. But the Downer share price is rocketing higher today following the company's full-year earnings results (FY 2024).
Investors are bidding up the ASX 200 share after the company reported a 5.5% year on year increase in revenue to $11.74 billion.
And FY 2024 profits were well up from FY 2023, with underlying net profit after tax (NPAT) increasing 24.5% to $193.9 million.
And passive income investors will be pleased by the 30.8% boost in full-year dividend to 17 cents per share. This sees Downer stock trading on a 3.0% unfranked dividend yield.
Which brings us to the second ASX 200 share that's shooting the lights out this week, Nanosonics Ltd (ASX: NAN).
Shares in the infection prevention healthcare company closed last Friday at $2.71. At the time of writing, shares are changing hands for $3.21 apiece. That puts the Nanosonics share price up 18.5% in just under five days.
The bulk of those gains were delivered on Tuesday when the Nanosonics share price closed up 22.6%.
That came as investors responded very positively to the company's FY 2024 earnings results.
Highlights included a 2% year on year increase in sales revenue to $170 million, with recurring revenue up 9% to $121.8 million.
Nanosonics gross profit of $132.4 million was up 1% from FY 2023, though NPAT of $13 million was down 35%.
Investor interest in the ASX 200 share looks to have been piqued by the strong revenue improvement in the second half of the financial year. While revenue declined in H1 FY 2024, Nanosonics reported a 14% year on year increase in revenue for H2.
The company had cash and cash equivalents of $129.6 million as at 30 June with no debt.
