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3 high quality growth shares I want in my portfolio

There are a large number of growth shares to choose from on the Australian share market.

In fact, there are so many it can be hard to decide which ones to buy. To help narrow things down I’ve picked out three that I think are among the best on offer right now.

They are as follows:

A2 Milk Company Ltd (ASX: A2M)

Even after its stellar gains over the last couple of years, I still believe a2 Milk Company is one of the best growth shares on the Australian share market to buy today. During the first quarter of FY 2019 the infant formula and dairy company made significant market share gains in China. Its share grew to 6.1%, which appears to demonstrate that demand for its a2 Platinum infant formula remains very strong despite increasing competition. I expect this trend to continue for some time to come, underpinning its growth over the medium term. So, with its shares down 30% from their 52-week high, now could be a good time to consider an investment with a long-term view.

REA Group Limited (ASX: REA)

This property listings company is another top growth share that I think investors ought to consider. On Thursday REA Group demonstrated just how resilient its business model is by delivering a 17% increase in quarterly revenue to $221.9 million and a 23% lift in quarterly EBITDA to $130.9 million despite the weak housing market. Management advised that the strong growth in difficult trading conditions was the result of positive product mix and strong sales operations.

Webjet Limited (ASX: WEB)

Another growth share that I think is worth considering is Webjet. The online travel agent’s shares have fallen heavily this week after announcing a capital raising to fund the acquisition of Destinations of the World. While there are concerns about the acquisition due to the premium paid and the fact that it is coming from private equity, I remain confident it will bolster its B2B segment and support Webjet’s long term growth. I’m not alone in this. A note out of Ord Minnett reveals that it has retained its buy rating and lifted the price target on Webjet’s shares to $19.03 following the acquisition.

Looking for more growth share ideas? Then check out these shares that have been tipped for big things in 2019.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended REA Group Limited and 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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