A new month is upon us, so what better time to look at making new additions to your portfolio.
If you're looking at adding a growth share of two, here are a few ideas to consider in May:
A2 Milk Company Ltd (ASX: A2M)
A2 Milk Company is a fresh milk and infant formula company which has been growing its profits at an astonishing rate over the last few years. This has been driven by the increasing demand for its infant formula products in China. This strong form has continued in FY 2019 with the company reporting a first half profit of NZ$152.7 million, which was an increase of 55.1% on the prior corresponding period. Whilst its growth is likely to moderate in the coming years, I still believe it will be more than strong enough to justify the premium that its shares trade at today.
Altium Limited (ASX: ALU)
One of my favourite growth shares on the ASX is Altium, which is a provider of printed circuit board (PCB) design software globally. I believe it could provide outsized returns for shareholders over the next decade thanks to its exposure to the Internet of Things boom. As the majority of connected devices require PCBs inside them, I expect demand for Altium's award-winning software will continue to grow strongly and drive above-average profit growth.
Webjet Limited (ASX: WEB)
Although rival Flight Centre Travel Group Ltd (ASX: FLT) has downgraded its full year profit guidance today, I wouldn't let that put you off an investment in Webjet. The online travel agent recently reiterated its full year EBITDA guidance of $120 million, representing year on year growth of 37%. Pleasingly, thanks to the popularity of its B2B and B2C brands and the shift to online travel booking, I expect more of the same in FY 2020.
