I think that one of the keys to successful long-term investing is being able to identify companies that can consistently grow their earnings long into the future.
If you can do this then you could set yourself up for some market beating returns over the long run.
With that in mind, here are three shares that I think have strong growth prospects:
a2 Milk Company Ltd (ASX: A2M)
One of my favourite growth shares on the local share market is a2 Milk Company. Although its shares have been on fire this year and are trading close to an all-time high, I don't believe it is too late to pick them up if you're prepared to make a patient buy and hold investment. This is because of the insatiable demand for its infant formula products in China, strong pricing power, and its expansion in the U.S. fresh milk market. Overall, I believe this has left the company well-placed to achieve further strong growth in FY 2020 and beyond.
NEXTDC Ltd (ASX: NXT)
Another top growth share to consider with a long term view is NEXTDC. Whilst the data centre operator's shares are admittedly expensive, I remain confident that it will deliver earnings growth over the next decade that more than justifies this premium. This is because as the cloud computing boom accelerates, demand for NEXTDC's innovative data centre outsourcing solutions and connectivity services is likely to increase significantly.
WiseTech Global Ltd (ASX: WTC)
A final growth share to consider is WiseTech Global. I believe the logistics solutions company is well-positioned to grow its earnings at a very strong rate over the next decade thanks to the quality of its CargoWise One platform. This single-platform software solution has quickly established itself as a vital part of the global supply chain. CargoWise One provides an enterprise-class management system for logistics companies across 130 countries. I believe a testament to the quality of the product is that the majority of the biggest logistics companies and freight forwarders are users of it.
