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These were the best performing ASX 200 shares last week

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. –

It was a good week for the S&P/ASX 200 Index (ASX: XJO) last week. The benchmark index rose 27.4 points or 0.4% over the five days to end the period at 7,488.3 points.

While a good number of shares climbed higher with the market, some climbed more than most. Here’s why these were the best performers on the ASX 200 last week:

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price was the best performer on the ASX 200 last week with a massive 29.3% gain. Investors were scrambling to buy the logistics solutions company’s shares following the release of its full year results for FY 2021. For the 12 months ended 30 June, WiseTech reported an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million. This compares favourably to its guidance for full year revenue of $470 million to $510 million and EBITDA of $165 million to $190 million. Looking ahead, management’s guidance for FY 2022 is EBITDA growth of 26% to 38% in FY 2022.

Blackmores Limited (ASX: BKL)

The Blackmores share price wasn’t far behind with a 28.4% gain last week. This was driven by the release of the health supplements company’s full year results. For the 12 months ended 30 June, Blackmores reported a 1.3% increase in revenue to $575.9 million and a 51.7% jump in underlying net profit after tax to $25.4 million. This went down well with analysts at Credit Suisse. In response, the broker upgraded its shares to a buy rating with a $100.00 price target.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price was a very strong performer last week and rose 25.8%. Investors were buying the biopharmaceutical company’s shares after a leading broker responded positively to its full year results. In respect to the latter, in FY 2021 Clinuvel reported a 43% increase in revenue to $48.5 million and a 63.5% jump in net profit after tax to $24.7 million. This led to analysts at Jefferies upgrading the company’s shares to a buy rating with a $36.80 price target.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price was on form and charged 22.9% higher over the five days. This was despite the travel agent posting another large loss in FY 2021. For the 12 months ended 30 June, the company reported a 74.2% decline in total transaction value (TTV) to $3,945 million and an underlying loss after tax of $364 million. However, the company’s outlook gave its shares a major boost. Management advised that it believes Flight Centre can reach profitability in FY 2022.

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 WiseTech Global. The Motley Fool Australia owns shares of and has recommended Blackmores Limited and WiseTech Global. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. 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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