I'm a big fan of growth shares and feel very lucky to have a large number of high quality ones to choose from on the Australian share market right now.
Three that I think are amongst the best on offer at the moment are listed below. Here's why I think they are buys:
A2 Milk Company Ltd (ASX: A2M)
This New Zealand-based fresh milk and infant formula company has delivered impressive earnings growth over the last few years due largely to the insatiable demand for its a2 Platinum infant formula in China. The good news is that demand continues to build and has led to a2 Milk achieving further market share gains in the massive market in 2019. This ultimately led to a2 Milk posting a 41% increase in half year revenue to NZ$613.1 million and a 55.1% lift in half year net profit after tax to NZ$152.7 million. I expect more of the same in the second half and in FY 2020.
Aristocrat Leisure Limited (ASX: ALL)
This gaming technology company could be another growth share to consider buying this week. As well as having a strong core pokie machine business producing some of the most in-demand machines in the world, the company has a rapidly growing digital business. This side of the business was a key driver of its growth in FY 2018, helping Aristocrat Leisure post a 34.2% lift in normalised NPATA to $729.6 million. And with the mobile and social gaming markets tipped to grow strongly over the next decade, I feel the company is well-positioned to deliver above-average earnings growth for the foreseeable future.
NEXTDC Ltd (ASX: NXT)
NEXTDC is a technology company providing innovative data centre outsourcing solutions, connectivity services, and infrastructure management software. Its partner ecosystem hosts Australia's largest independent network of carriers, cloud, and IT service providers. This allows NEXTDC's customers to source and connect with cloud platforms, service providers, and vendors to build integrated hybrid cloud deployments and scale their IT infrastructure and services. I believe the quality of its offering and the cloud computing boom have left NEXTDC well-placed to grow earnings at a strong rate over the next decade.
