The S&P/ASX 200 Index (ASX: XJO) ended its winning streak last week with a small decline. The benchmark index recorded a 0.2% weekly decline to end the period at 6,111.2 points.
Four shares that didn’t let that hold them back are listed below. Here’s why they were the best performers on the ASX 200 last week:
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price was the best performer on the ASX 200 last week with a 40% gain. Investors were fighting to buy the logistics solutions company’s shares after it overcame COVID-19 headwinds to deliver a strong full year result for FY 2020. WiseTech Global recorded a 23% increase in revenue and a 17% lift in EBITDA. Looking ahead, management provided very positive guidance for FY 2021. It expects its EBITDA to increase between 22% and 42%.
IDP Education Ltd (ASX: IEL)
The IDP Education share price wasn’t that far behind with a 31.6% gain over the period. The catalyst for this was the student placement and language testing company’s strong full year result. Despite the pandemic, IDP Education posted a 2% decline in revenue to $587.1 million and an impressive 29% increase in EBITDA to $148.6 million. The latter was driven by excellent cost control.
Monadelphous Group Limited (ASX: MND)
The Monadelphous share price was on form and charged 29.3% higher last week. This appears to have been driven by a bullish broker note following its full year results. Analysts at Macquarie upgraded the engineering company’s shares to an outperform rating with an increased price target of $11.57.
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price was a strong performer last week with a gain of 20.9%. Investors were buying the corporate travel specialist’s shares following the release of its full year results. Although the company reported a loss of $8.2 million, a better than expected performance in July got investors excited. Corporate Travel Management revealed that its bookings in July were greater than in June. It feels this suggests a broad-based recovery in corporate travel activity is underway.
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More reading
- These were the worst performing ASX 200 shares last week
- WiseTech and 2 more ASX shares outperforming this earnings season
- The ASX 200 fell 0.1% today, Suncorp shines
- Where to now for the NIB share price?
- Why the Corporate Travel share price is up 57% in August
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Idp Education Pty Ltd and WiseTech Global. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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