It was a disappointing month for the S&P/ASX 200 Index (ASX: XJO) in February. The benchmark index dropped 2.9% during the month to end the period at 7,258.4 points.

The good news is that not all shares dropped with the market. In fact, some even managed to record strong gains in February. Here’s why these were the best performing ASX 200 shares last month:

GUD Holdings Limited (ASX: GUD)

The GUD share price was the best performer on the ASX 200 in February with a 23% gain. Investors were scrambling to buy this diversified products company’s shares after it reported a 55.7% increase in half year revenue and an 88.7% jump in net profit. Management advised that this was driven by a strong core automotive result combined with full six-month contributions from APG and Vision X.

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price wasn’t far behind with a gain of 20% last month. Once again, a solid result was behind this impressive gain. Australia’s largest car sales group achieved a record underlying operating profit before tax of $405.2 million. This allowed the company to declare a final dividend of 49 cents per share, bringing its full-year dividend to a record of 71 cents per share for FY 2022.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price was a strong performer and charged 19.3% higher over the period. It was a busy month for this administration services company. It released its results, announced a partnership extension with Rest, released an update on the Fund Solutions divestment, and completed the sale of its PEXA Group (ASX: PXA) shares.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price was on fire in February and charged 18.9% higher. This travel agent giant surged higher last month after it released its unaudited half-year results early to support its capital raising to fund the acquisition of luxury travel company Scott Dunn. Flight Centre revealed the more than tripling of its revenue to $1 billion thanks to a significant rebound in the travel market and a particularly strong performance from its corporate business.

The post These ASX 200 shares smashed the market in February appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Here are the top ten ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• How did the Flight Centre share price manage to leap almost 18% in February?
• Why did the CSL share price outperform the ASX 200 in February?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration. The Motley Fool Australia has recommended Flight Centre Travel Group. 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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