One of the best areas of the market to look for growth shares in my opinion is the mid cap space. I think in this area there are a good number of shares that have the potential to grow into much larger entities in the future.
Three of the best mid cap shares on offer at the moment in my eyes are listed below. Here's why I like them:
Bingo Industries Ltd (ASX: BIN)
Bingo is a leading waste management company that I think could be worth a closer look. Its shares have lost a third of their value since peaking at $3.27 in September due to concerns that the ACCC may block its proposed $577.5 million acquisition of Dial A Dump Industries. However, with management planning to divest its waste processing facility in Banksmeadow, I think there's good chance the deal could go through. If it does, Bingo's long-term earnings outlook would be very positive. A decision is due by the end of the month, so investors may want to keep an eye out for that.
Bravura Solutions Ltd (ASX: BVS)
Bravura provides software products and services to clients operating in the wealth management and funds administration industries. The key product in its portfolio is its Sonata wealth management platform which allows users to connect and engage with their clients anytime, anywhere, via computers, tablets or smartphones. In FY 2018 Sonata revenue increased 32% to $122.5 million, representing 55% of the company's total revenue. Due to its long runway for growth, I expect it to continue to underpin the company's growth for many years to come.
Helloworld Travel Ltd (ASX: HLO)
Helloworld is an integrated travel company which I think is well positioned to profit from the inbound and outbound tourism boom. It has experienced robust demand for its offering over the last couple of years, leading to strong profit growth. Pleasingly, FY 2019 looks likely to be more of the same with management providing guidance of earnings growth in the range of 16.5% and 23%. I think this makes its shares great value at ~17.5x estimated forward earnings.
