The All Ordinaries (ASX: XAO) has risen a pleasing amount over the past six months, up more than 12%. However, when you zoom in for a closer look at the year to date, the All Ords has lifted only 2% in 2024.
There are a few Australian shares that have completely smashed the ASX’s return this year. Here are three of the top performers.
Life360 Inc (ASX: 360)
The Life360 share price has risen by almost 70% since the start of 2024.
This ASX tech share provides an app to families that helps track where people are via location sharing. The app has communication abilities, it delivers ‘safe driver reports’ and has crash detection with emergency dispatch.
A month ago, the company reported strong growth in its 2023 annual result. Revenue lifted 33% year-over-year to $305 million, and the company saw a 26% year-over-year increase in global monthly users to 61.4 million.
Profitability is now flowing through the business, too. Life360 delivered positive adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of $20.6 million (beating guidance of between $12 million to $16 million). It also achieved a positive operating cash flow of $7.5 million, an improvement of $64.6 million year over year.
Life36 expects revenue of between $365 million to $375 million in 2024, with adjusted EBITDA of between $30 million to $35 million.
Step One Clothing Ltd (ASX: STP)
The Step One share price has risen by more than 60% since the start of 2024.
The Australian company describes itself as a leading direct-to-consumer online retailer of innerwear. It offers an exclusive range of high-quality, organically grown and certified, sustainable and ethically manufactured innerwear.
The company’s HY24 result released I February showed a lot of positive numbers. Revenue rose by 25.5% to $45.1 million, EBITDA grew 35.6% to $10.1 million, the gross profit margin improved from 80.7% to 81.2% and the average order value went up 4.7% to $94.47.
Step One Clothing also declared a dividend per share of 4 cents.
Temple & Webster Group Ltd (ASX: TPW)
Since the start of 2024, the Temple & Webster share price has risen around 40%.
Temple & Webster is an online retailer of homewares and furniture. It sells more than 200,000 products, with a large proportion from its hundreds of suppliers who ship directly to the customer. This process reduces the need for the ASX share to hold inventory. It also has a private label range.
The Australian share has a growing trade and commercial division, as well as a large range of home improvement products such as bathroom items, kitchen items, tiles, curtains, blinds, lighting and so on.
Temple & Webster’s HY24 result was impressive, considering the challenging economic conditions impacting household spending. Revenue rose by 23% to $254 million, and it achieved EBITDA of $7.5 million for the FY24 first half.
For the period of 1 January 2024 to 11 February 2024, revenue increased by 35%, thanks to both first-time and repeat customers. It finished with $114 million of cash and no debt.
The post 3 Australian shares quietly crushing the ASX this year appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
See The 5 Stocks
*Returns as of 1 February 2024
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- 3 ASX growth shares to supercharge your investment portfolio returns
- Got $5,000? 5 ASX shares to buy for lasting wealth
- How ASX shares vs. property performed in March
- These were the best-performing ASX 200 shares in March
- This ASX tech stock rocketed 60% in March! Can it keep on delivering?
Motley Fool contributor Tristan Harrison has positions in Temple & Webster Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360 and Temple & Webster Group. The Motley Fool Australia has recommended Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/vUSZGIc
Leave a Reply