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3 top growth shares I would buy in October

In a few days a new month will be upon us. I think this is a great time to look through portfolios and see if there are any shares that could be added to potentially improve future returns.

If growth shares are what you are looking for then I think the shares listed below could be great additions in October after a spot of share price weakness this month.

Here’s why I like them:

Aristocrat Leisure Limited (ASX: ALL)

Aristocrat Leisure is a leading gaming technology company that I think is well worth considering, especially after a recent pullback in its share price. In the first half of FY 2018 Aristocrat Leisure posted a 33.6% increase in revenue to $1,640.9 million and a 32.5% lift in NPATA to $361.5 million. This result was driven by strong growth in its Americas and Digital businesses, including the recent acquisitions of Plarium and Big Fish, together with a further lift in performance in the ANZ region. I expect more of the same in the second half and in FY 2019.

Bellamy’s Australia Ltd (ASX: BAL)

This organic infant formula company is another growth share that has had a meaningful pullback in its share price recently. This pullback was largely caused by delays to its CFDA accreditation needed to sell Chinese labelled products by regulators in the country. While the delays are a concern and are likely to result in lower than expected sales in FY 2019, I believe that the selloff has been overdone and has left Bellamy’s shares trading at a very attractive level.

Webjet Limited (ASX: WEB)

Webjet’s shares have dropped a touch this week after UK partner Thomas Cook announced a profit warning. Thomas Cook’s shares fell by 25% after it warned that full year profits would be down 15% from last year after unseasonably hot weather in northern Europe hit late summer bookings. I wouldn’t be overly concerned by this development given that the Thomas Cook partnership only contributed approximately 8.5% of its total transaction value in FY 2018. In light of this, I think the recent share price weakness could be a buying opportunity for patient investors that are willing to hold on for the long term.

Here's another top growth share worth considering in October. I believe it is trading at a very attractive price given its strong long-term growth prospects.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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.

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