Why I would buy these ASX growth shares

The good news for growth investors is that I believe the Australian share market is home to a great number of quality growth shares right now.

Three quality growth shares that are at the top of my list currently are listed below. Here’s why I think investors ought to consider buying them:

Aristocrat Leisure Limited (ASX: ALL)

While Aristocrat Leisure may be best known as a pokie machine maker, the main attraction for me is the company’s fast-growing digital business and the sizeable recurring revenues that it is generating following the acquisition of two leaders in the market. At the last count the company had 8.3 million daily active users playing its digital games. Both the number of users and the amount of revenue per user could be given a boost in the coming months following the release of several new games. I expect this to lead to strong earnings growth over the coming years.

CSL Limited (ASX: CSL)

I think that this global biotech company could be a great option for growth investors. Although its shares have been on fire since the release of an impressive half-year result, I don’t believe it is too late to invest if you’re willing to hold on for the long-term. Thanks to the tailwinds being experienced by its core business, a pipeline of products, and the better than expected performance of its Seqirus influenza business, I believe CSL can continue its solid growth for some time to come.


NEXTDC is a data centre operator with a growing network of facilities in strategically important locations across Australia. The company recently raised funds to purchase three new commercial property sites which will bring its total network to 11 centres. Combined these centres will ultimately provide capacity of 300 megawatts, catering to the growing demand for data centre services caused by the cloud computing boom. While I expect this to result in bumper earnings growth in the long-term that justifies the premium its shares trade at today, failure to deliver on the market’s high expectations could result in its shares falling heavily.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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