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These were the best ASX All Ordinaries performers in August

These ASX shares had strong months….
The post These were the best ASX All Ordinaries performers in August appeared first on The Motley Fool Australia. –

The All Ordinaries Index (ASX: XAO) was on form again in August, recording its 11th consecutive monthly gain.

While a large number of ASX All Ordinaries shares were on form over the period, some recorded particularly strong gains.

Which were the best performing ASX All Ordinaries shares in August?

The best performer on the ASX All Ordinaries last month by some distance was the Novonix Ltd (ASX: NVX) share price with a gain of 75%. This was driven by news that US energy giant Phillips 66 has entered into an agreement to acquire a 16% stake in Novonix. Phillips 66 notes that the investment will expand its presence in the battery supply chain. It will also help advance Novonix’s production of synthetic graphite for high-performance lithium-ion batteries.

The next best performing ASX All Ordinaries share was WiseTech Global Ltd (ASX: WTC) with a 57% gain. The logistics solutions company’s shares surged higher after reporting an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million in FY 2021. The latter was well ahead of its EBITDA guidance of $165 million to $190 million. Looking ahead, management is expecting further strong growth in FY 2022. It has provided guidance for EBITDA growth of 26% to 38%.

Which other shares performed strongly?

Another ASX All Ordinaries share that caught the eye in August was Ardent Leisure Group Ltd (ASX: ALG). Its shares rose 52.5% over the month, with the majority of this gain coming following the release of its full year results. The Dreamworld and Main Event operator reported a 165.6% increase in EBITDA to $67.3 million for FY 2021 thanks to a strong second half. Pleasingly, management advised that it is optimistic that this positive momentum will continue into FY 2022.

Finally, the PPK Group Limited (ASX: PPK) share price was another highlight on the All Ordinaries with a gain of 49.9% in August. This was despite the investment company experiencing delays in its plans to spin off lithium-sulphur chemistry battery creator Li-S Energy via an IPO. Li-S Energy is expected to list at 85 cents per share, giving it a market capitalisation of around $544 million.

The post These were the best ASX All Ordinaries performers in August appeared first on The Motley Fool Australia.

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More reading

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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. owns shares of and has recommended WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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