ASX Stocks That Shined: Top Performers of the Year

December 23, 2024 12:00 AM AEDT | By Team Kalkine Media

ASX Stocks That Shined: Top Performers of the Year — Image source: shutterstock

Mesoblast (ASX:MSB)

Mesoblast, a leader in biotechnology, has achieved notable advancements in treating severe inflammatory conditions. The company’s flagship product, Ryoncil, gained FDA approval in December for treating steroid-refractory acute graft-versus-host disease (SR-aGVHD) in children. This approval represents a significant milestone, positioning Mesoblast as a key player in regenerative medicine. Over the past year, Mesoblast's stock has witnessed a remarkable surge, reflecting confidence in its innovative treatments targeting chronic heart failure and low back pain.

Zip Co (ASX:ZIP)

Zip Co, a leading fintech company, operates in the growing "buy now, pay later" (BNPL) space across multiple countries, including Australia and the US. The company took significant steps in 2024, including a capital raise that eliminated corporate debt. Zip Co also partnered with Stripe in the US, enhancing its global footprint. Its FY24 results highlighted a 28.2% revenue increase and a substantial rise in cash EBTDA, reinforcing its operational strength. These factors have driven a robust performance in the past year.

Appen (ASX:APX)

Appen, a global provider of datasets for artificial intelligence and machine learning, faced challenges early in 2024, including the termination of a contract with Google. However, the company rebounded strongly, reporting revenue growth in its FY24 half-yearly results. Appen's New Markets revenue surged, with substantial contributions from China and global products. Cost control measures further enhanced its underlying EBITDA. The company’s ability to adapt and grow despite headwinds underscores its resilience.

Southern Cross Gold (ASX:SXG)

Southern Cross Gold, a prominent player in the mining sector, has delivered exceptional results with its exploration projects. In June, the company announced plans to merge with Mawson Gold, paving the way for a dual listing on Australian and Toronto stock exchanges. Positive drilling outcomes from its Sunday Creek project, including significant gold intercepts, bolstered investor confidence. Southern Cross continues to position itself strongly in the mining industry with strategic developments.

These standout performers highlight the potential of innovation, strategic planning, and market adaptability to drive growth and shareholder value across diverse sectors.

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