The S&P/ASX 200 Index (ASX: XJO) had a relatively subdued time in August. During the month, the benchmark index had many ups and downs but ended the period flat.
Four ASX 200 shares that performed significantly better during the period are listed below. Here's why they were the best-performers on the index:
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price was the best performer on the ASX 200 in August with a 24.3% gain. Investors were buying this logistics solutions company's shares after it released its full year results and reported a 28% jump in revenue to $1.04 billion and a 28% increase in underlying EBITDA to $496 million. The latter was ahead of its guidance range for FY 2024. Also getting investors excited was management's guidance for the year ahead. It is guiding to EBITDA of $660 million to $700 million, which represents quicker growth of 33% to 41%.
Zip Co Ltd (ASX: ZIP)
The Zip share price wasn't far behind in second place with an impressive 23.6% gain over the period. A strong fourth quarter update at the end of July appears to have been the main driver. And while its shares were sold off due to profit taking after its results were released late in August, they soon rebounded and ended the month just short of a 52-week high.
Orora Ltd (ASX: ORA)
The Orora share price was on form in August and rose a sizeable 22%. The catalyst for this was news that the beverage packaging company received and rejected a takeover offer from Lone Star. Under the indicative proposal, Orora shareholders would have been entitled to receive $2.55 per share, less any dividends declared or payable. Orora's board labelled the offer opportunistic and didn't believe it was in the best interests of shareholders. It commented: "The Board, together with its advisers, carefully considered the Indicative Proposal and determined that it is not in the best interests of its shareholders to further engage with Lone Star on the basis of the Indicative Proposal, which materially undervalues Orora." The company's shares also jumped following the release of Orora's full year results. Orora's shares ended the month at $2.50.
Charter Hall Group (ASX: CHC)
The Charter Hall share price smashed the market during the month and climbed 21.6%. This was driven by the release of the property company's FY 2024 results. Although Charter Hall reported a statutory loss of $222.1 million, this was due to net fair value movements on investments and property. The company's operating earnings were strong at $358.7 million for the year. This allowed Charter Hall to pay total dividends of 45.1 cents per share, which was in line with a year earlier.
Breville Group Ltd (ASX: BRG)
The Breville share price was a strong performer in August and recorded a gain of 18.1%. Investors were fighting to get hold of the appliance manufacturer's shares after it released its FY 2024 results. Breville revealed a 3.5% increase in revenue to $1.53 billion and a 7.5% jump in net profit to $118.5 million. And while no guidance was given for FY 2025, management revealed that it has the flexibility to deliver earnings growth. It said: "It is too early to predict how these forces will play out across the whole year, but our expense budget is again set with flexibility to deliver EBIT growth under a range of probable revenue and cost scenarios."
