I'm a big fan of growth shares and feel very lucky to have such a large number of quality options to choose from on the ASX.
Three of my favourites are listed below. Here's why I think growth investors ought to consider buying them this month:
a2 Milk Company Ltd (ASX: A2M)
This infant formula and fresh milk company is one of my favourite growth shares on the Australian share market. Earlier this week a2 Milk held its annual general meeting and revealed that it continues to experience strong demand for its infant formula in China. As a result, management expects another year of robust sales growth in FY 2020. And while its margins will soften a touch year on year due to its higher marketing spend, it is likely to still deliver enviably strong earnings growth.
Nearmap Ltd (ASX: NEA)
Another growth share to consider buying is Nearmap. It is one of the world's leading aerial imagery technology and location data companies. Last week it provided its guidance for FY 2020 and revealed expectations for annualised contract value (ACV) of $116 million to $120 million. The top end of its guidance range represents growth of 33% on FY 2019's ACV of $90.2 million. Pleasingly, I believe it is capable of delivering similarly strong growth beyond for many more years to come thanks to its high-quality product offering, expansions, and massive global market opportunity.
Webjet Limited (ASX: WEB)
Another share to consider buying is Webjet. As with both a2 Milk and Nearmap, Webjet eased investor's nerves this week when it provided its guidance for FY 2020. The online travel agent once again expects to deliver strong earnings growth this year despite weaker travel market. This is thanks largely to its rapidly growing WebBeds business which continues to outpace industry growth by a significant margin. I feel confident this trend will continue for the foreseeable future thanks to its strong brands and favourable tailwinds.
