This week the majority of shares on the ASX have been dragged down due to market turmoil over in China. While nobody likes to see share prices come down, it has brought about an opportunity to invest in a couple of high quality growth shares at a reasonable price.
SEEK Limited (ASX: SEK) started the week by climbing up to a share price of $15.38, but closed yesterday all the way down at $13.98, making a loss of over 9% since Monday.
The majority of Australians will have at some time or another used SEEK's services to find or offer employment. In fact, in the last fiscal year the company averaged over 35 million monthly visits. That is a huge number for a country with a population of 23 million. It is this type of performance that has propelled SEEK to such great heights and as the company continues expanding overseas this growth looks set to continue.
Last year there were over 340 million visits and over 3 million job ads through SEEK International, which operates in expanding markets in South East Asia, India, China, Latin America and Africa. As the company builds up its presence in these markets these figures have only one way to go – up.
Domino's Pizza Enterprises Ltd (ASX: DMP) has been as high as $59.25 this week, but now finds itself down almost 4% at $56.97.
Domino's Pizza was one of the outstanding performers on the ASX in 2015 providing shareholders with a return close to 130%. While its not expected to do that again in 2016 there is the potential for great shareholder returns fuelled by long-term earnings growth from overseas operations. Most recently the company made a acquisition of a 212 store pizza chain in Germany. Due to the success of operations already in France, The Netherlands and Belgium this is expected to be more of the same.
The company also has a rapid growth plan in place in Japan where it grew its store base by 64 stores and expects 70-80 new stores in fiscal 2016. This brought the total number of stores worldwide to 1,544.
Due to the strengthening of the Yen and the Euro against the Australian dollar these overseas operations will prove to be invaluable for maintaining the high levels of growth that the market has come to expect.
Foolish takeaway
Market volatility has presented us with a great investment opportunity in two of Australia's most popular growth stocks. Opportunities like these don't present themselves too often, so it is well worth considering them for your portfolio.
