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4 FAST growing ASX stocks to pocket today

Forget the slow moving BHP Billiton Limited (ASX: BHP) or Wesfarmers Ltd (ASX: WES), there are a number of ASX stocks which have already performed exceptionally well for shareholders, but appear primed for further outperformance in the future. For example, all three of the stocks below have crushed the S&P/ASX 200 Index’s (ASX: XJO) (INDEX: ^AXJO) 12-month return of just 11.48%.

The first stock that’s firmly on my long-term buy list is FSA Group Limited (ASX: FSA). FSA helps individuals with debt problems and businesses with cash flow management. Whilst its business model might sound boring, it’s a silent achiever which has gained 84% in the past 12 months. However with a juicy fully franked dividend, rapidly growing profits and cheap share price, I think there’s more to come (it’s the reason I made it my top stock pick for July).

The second stock which I believe has a bright future ahead is Vita Life Sciences (ASX: VSC). It is an $87 million company involved in the manufacture and distribution of vitamins and supplements throughout Australia and Asia. In the past five years sales have grown at an average rate of 16.1%. In 2014 management have set guidance of between 13% and 15% revenue growth and an EBIT margin of 15%. Whilst Australia remains a competitive market, Asia now accounts for 60% of group revenue.

Liquefied Natural Gas Limited (ASX: LNG) has proven to be the ASX’s hottest stock of 2014, increasing some 645% so far. Although it is yet to make a profit, LNGL is moving towards the development of an eight million tonnes per annum (8mtpa) LNG liquefaction and export facility in Lake Charles, Louisiana USA. If the company can get the necessary funding and approvals for the Magnolia project, it could generate EBITDA of up $750 million per annum by 2021. Although there is a considerable risk that nothing may eventuate from the project, some of the world’s biggest and best fund managers have taken up substantial holdings in the company with the expectation it’ll be successful. If everything goes according to plan, its current market price of $2.20 per share could prove to be cheap.

ADMEDUS FPO (ASX: AHZ) is a junior biotechnology stock with considerable upside potential. Admedus is involved in the development, manufacture and distribution of a tissue regeneration technology known as Cardiocel. With six years passed since clinical trials, Admedus has received US and European approval to market the technology which allows it to increase revenues significantly in coming years. In addition the company continues with its vaccines program and distribution of medical devices. At $0.13 per share I think it is a somewhat risky, but good long-term buy and hold.

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Each of these companies hold significant long-term potential from their current prices. However they are risky and only one (FSA) pays an attractive dividend. Fast growing companies which can pay a BIG dividend usually don’t remain hidden from the market for long.

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Motley Fool Contributor Owen Raszkiewicz owns shares in Admedus FPO and Liquefied Natural Gas Limited.  

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