These ASX 200 shares were on form last week…
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia. –
Weakness in the resources sector weighed heavily on the S&P/ASX 200 Index (ASX: XJO) last week. This led to the benchmark index falling 2.2% over the five days to end at 7,460.9 points.
Thankfully, not all shares dropped with the market. Here’s why these were the best performers on the ASX 200 last week:
Pro Medicus Limited (ASX: PME)
The Pro Medicus share price was the best performer on the ASX 200 last week with a gain of 17.5%. Investors were buying the healthcare technology company’s shares following the release of a solid full year result. In FY 2021, Pro Medicus reported a 19.5% increase in revenue to $67.9 million and a 33.7% jump in net profit after tax to $30.9 million. Strong demand for its technology from major healthcare institutions has been driving its growth. The Pro Medicus share price is now up 93% year to date.
Kogan.com Ltd (ASX: KGN)
The Kogan share price wasn’t far behind with a gain of 15.1%. This is despite there being no news out of the ecommerce company. However, with one of its peers releasing a strong result, investors may be expecting something similar next week from Kogan. That peer was Redbubble Ltd (ASX: RBL), which reported a 58% revenue increase to $553 million. And thanks to operating leverage, Redbubble swung from a loss of $9 million in FY 2020 to a profit of $31 million in FY 2021.
Chorus Ltd (ASX: CNU)
The Chorus share price was on form and jumped 12% over the five days. This followed the release of the NZ Commerce Commission’s draft regulatory asset base (RAB) decision for its fibre business. The draft decision values Chorus’ fibre network at NZ$5.427 billion. This is important as the value of the network is a key building block in determining the revenues Chorus can earn over the first three years of the new regulatory regime starting 1 January.
Domain Holdings Australia Ltd (ASX: DHG)
The Domain share price was a strong performer and rose 11.1% last week. This was driven by the release of the property listings company’s full year results. For the 12 months ended 30 June, Domain reported a 66% increase in net profit to $37.9 million. Domain also revealed that its unique digital audience increased to a record of more than 9 million during the year. This went down well with UBS, which upgraded its shares to a buy rating with an improved price target of $5.70.
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.
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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 Kogan.com ltd and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.