If your risk profile allows you to invest in growth shares, then you're in luck because right now I believe there are a large number of fast-growing shares trading at attractive prices on the Australian market.
Three in the food industry that I would suggest investors take a closer look at are listed below. Here's why I like them:
Collins Foods Ltd (ASX: CKF)
Collins Foods is a leading KFC franchisor with a total of 256 stores across Australia and Europe. It is the latter market which I believe will be the key driver of the company's growth in the future. The underpenetrated European market provides Collins Foods with a significant runway for growth, which I feel makes it a great buy and hold option. In addition to this, last week the company announced plans to expand the Taco Bell brand across Australia following the successful trial of a store in Brisbane.
Costa Group Holdings Ltd (ASX: CGC)
Costa is one of Australia's largest food producers, growing berries, tomatoes, mushrooms, citrus fruit, and avocados. With the population growing, diets becoming healthier, and Australia quickly becoming the food bowl of Asia, I believe Costa is well-positioned for long-term growth. Especially considering the company's bold production expansion plans. So, with its shares down 26% from their 52-week high, I feel now could be an opportune time to invest with a long-term view.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another quick service restaurant operator that I think is worth considering is Domino's Pizza. It may have had its issues over the last couple of years, but I remain confident that these are behind it and management can now focus purely on the future. This will include growing its store network from a total of 2,393 restaurants to 4,650 restaurants by FY 2025. Like Collins Foods, the bulk of this growth is expected to come from the European market where Domino's aims to grow its footprint from 1,054 restaurants to 2,600 restaurants. If management successfully executes this expansion then I expect it to result in strong earnings growth for the foreseeable future.
