I believe that the Australian share market is home to a great number of quality growth shares for investors to choose from.
Three stellar growth shares that are at the top of my list right now are listed below. Here's why I think investors ought to consider buying them:
Aristocrat Leisure Limited (ASX: ALL)
Aristocrat Leisure has been one of the best performing growth shares over the last decade and has provided shareholders with an average annual total return of 14.9%. This means that a $10,000 investment 10 years ago would now be worth over $40,000 today. The good news is that thanks to its market leadership in the pokie machine industry and its fast-growing social and mobile gaming segment, I believe the gaming technology company can continue providing market-beating returns for many years to come. This could make it a great option for investors today, especially as its shares are changing hands at just 23x estimated full year earnings.
Corporate Travel Management Ltd (ASX: CTD)
There are a lot of great options for investors in the travel industry, but one of the best would have to be this corporate travel management company. Over the past few years the company has impressed the market with its strong profit growth. This continued to be the case in the first half of FY 2018 when it delivered a 33% increase in underlying half-year net profit on the prior corresponding period to $36.4 million. I expect more of the same in the second half and beyond thanks to the company's growth opportunities in a highly fragmented global corporate travel market.
Nextdc Ltd (ASX: NXT)
Although this data centre operator's shares trade at a significant premium to the market average, I remain confident that NEXTDC's long-term earnings growth will more than justify this. Especially given the rise of cloud computing, the ever-increasing demand for data centre services, and the company's portfolio of strategically positioned world class data centres.
