When it comes to growth shares, the local market is home to a good number of quality options for investors to choose from.
Three of my favourites are listed below. Here's why I think they could be the ones to buy in September:
A2 Milk Company Ltd (ASX: A2M)
One of my favourite growth shares is this infant formula and fresh milk company. In FY 2019 the company delivered an impressive 41.4% increase in revenue to NZ$1,304.5 million and a 46.1% increase in EBITDA to NZ$413.6 million. This strong result was driven largely by increasing demand for its infant formula in China, fresh milk market share gains in the ANZ market, and the expansion of its fresh milk footprint in the United States. Despite the strong result, the market was expecting even more from a2 Milk Company, leading to its shares being sold off. I think this is a buying opportunity for investors willing to make a buy and hold investment.
Altium Ltd (ASX: ALU)
Another growth share to consider buying next month is this design software company which I feel has been one of the standouts during earnings season. Last week Altium released its full year results and reported a 22.6% increase in full year revenue to US$171.8 million and a 41.1% increase in net profit after tax to US$52.9 million. And thanks to the increasing demand for its software due to the Internet of Things boom, management appears confident that this strong growth can continue for the foreseeable future. It reiterated its aim of growing its revenue to US$500 million by FY 2025.
Nearmap Ltd (ASX: NEA)
A third and final growth share to consider buying is Nearmap. It is a leading aerial imagery technology and location data company which I think has enormous growth potential. And with its shares down materially since peaking at $4.29 in June, I feel now could be an opportune time to consider an investment with a long-term view. Especially given the massive opportunity it has in the North American market. I expect this, new products, and further geographic expansions to be key drivers of growth over the coming years.
