I think the Australian share market is home to a good number of shares that have the potential to grow strongly over the next decade.
Three top growth shares that I believe could be great long-term investments are listed below. Here's why I like them:
Aristocrat Leisure Limited (ASX: ALL)
This gaming technology company's shares have lost 25% of their value since hitting a 52-week high of $33.06 in July. The selling has been largely due to its strong full year results falling short of the market's lofty expectations. Whilst this is disappointing for existing shareholders, I think it has created a buying opportunity for the rest of us. Especially given the company's strong long-term growth potential thanks to its exposure to a digital and social gaming market which is expected to grow at a rapid rate over the next decade.
Bravura Solutions Ltd (ASX: BVS)
One of my favourite growth shares in the mid cap space is this provider of software products and services to clients operating in the wealth management and funds administration industries. The main attraction to the company for me is its popular Sonata product which continues to underpin the company's strong growth. Growing demand for the Sonata platform led to Bravura Solutions posting a 24% increase in half year revenue to $127.4 million and a 28% lift in half year EBITDA to $23.8 million last month. I expect more of the same in the second half and beyond thanks to the quality of the platform and its sizeable market opportunity.
Cochlear Limited (ASX: COH)
I think this leading global hearing solutions company could be a fantastic long term investment. Last month the company continued its positive run when it posted a 16% lift in half year profits. I expect similarly strong growth over the next decade thanks to the quality of its products, its investments in R&D, wide distribution network, and the expected increase in demand for its hearing implants globally due to ageing populations.
