I’m a big fan of growth shares and fortunately for me the Australian share market is not short of quality options in that area.
So much so, it can be hard to choose which ones to buy.
To help you on your way I thought I would pick out three of my favourites right now. They are as follows:
A2 Milk Company Ltd (ASX: A2M)
I think this leading infant formula and fresh milk company could be a great option for growth investors. It has been growing its sales and earnings at an incredible rate over the last few years and this has continued to be the case in FY 2019. The company recently released its third quarter update and revealed that demand for its products in China and the ANZ region has remained strong. This helped drive its revenue for the first nine months of FY 2019 to NZ$938 million, up an impressive 42% on the prior corresponding period. I believe a2 Milk Company is well-positioned for further strong growth in FY 2020, making it a share I would want in my portfolio.
Altium Limited (ASX: ALU)
I think that one of the best tech shares on the ASX could be this leading provider of printed circuit board (PCB) design software. This is due to its exposure to an Internet of Things (IoT) market which is predicted to grow materially over the next decade. As the majority of IoT devices require PCBs inside them to function, I expect the company to experience increasing demand for its award-winning software. In addition to this, the company’s Octopart business has significant potential and could support the growth of the core business.
Webjet Limited (ASX: WEB)
A final growth share to consider buying next week is Webjet. I believe it is well-positioned for strong long-term growth thanks to the global tourism boom, the increasing popularity of its booking platforms, its massive global opportunity, and the ongoing shift to online booking. In addition to this, the company has a track record of making earnings accretive acquisitions to boost its growth inorganically. Given how fragmented the market is, I suspect more bolt on acquisitions could be made in the coming years.
And here is a small cap growth share which was recently rated as a buy and tipped for very big things.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk and Altium. The Motley Fool Australia has recommended Webjet Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019