The recent volatility of the S&P/ASX 200 Index (ASX: XJO) and the shaky economic outlook over the next 6 months has spooked a lot of investors.
However, I still believe there are good buying opportunities for investors with a long-term investment horizon.
Here are 2 shares which have displayed strong share price growth over the past 12 months, despite the coronavirus crisis: A2 Milk Company Ltd (ASX: A2M) and Domino's Pizza Enterprises Ltd. (ASX: DMP).
I believe both these ASX 100 shares have strong growth prospects over the next few years.
Domino's Pizza
Over the past year, the Domino's share price has increased by an impressive 32% (at the time of writing).
In a recent market update in late April, Domino's revealed that its chain of stores in France, one of the worst hit European countries during the coronavirus pandemic, is now progressively re-opening its stores. New Zealand stores started to re-open from 28 April. Also, pleasingly, its stores in Japan and Germany have managed to maintain their strong sales growth.
Although there has been some impact to trading conditions in Australia, same store sales have generally been consistent with sales prior to the crisis.
Domino's Pizza has an aggressive expansion plan, which should help to see continued strong sales growth over the next 5 years. Although it is quite likely that store expansion plans will be impacted during the coronavirus crisis, I believe that store rollouts will eventually return to normal as the restrictions gradually ease.
I feel that this should help to drive above average shareholder returns over the next 5 years.
a2 Milk
a2 Milk is another leading ASX 100 share that has managed to shine brightly during the coronavirus crisis, with strong continued demand for its milk products.
Over the past 12 months, the a2 Milk share price increased by 23% (at the time of writing) and since the ASX market slide began in late February, its share price increased by an even higher 29%.
In a recent trading update in late April, a2 Milk revealed that it has continued to see strong growth across all its key operating regions since it released its half year results at the end of February. The company's infant nutrition products in both China and Australia have seen strong continued demand.
I believe that a2 Milk looks set to see strong growth over the next 3–5 years, driven by continued demand in its 2 largest growth markets: US and China.
