When it comes to growth shares I think Australian investors are spoilt for choice. But with so many to choose from it can be difficult to narrow down which ones to add to your portfolio.
To help you on your way I've picked out three growth shares which I think are amongst the best the local share market has to offer.
They are as follow:
Aristocrat Leisure Limited (ASX: ALL)
Whilst it is best known for its pokie machines, Aristocrat Leisure is so much more than that. In fact, the main attraction to the company in my opinion is its digital segment. Thanks to a series of acquisitions the segment is poised to be its growth engine for the next decade. I've been very impressed at the recurring revenues the segment has generated and expect further growth in FY 2018.
Domino's Pizza Enterprises Ltd. (ASX: DMP)
This former market darling's shares are down in the dumps this year, potentially making it a great time to snap them up with a long-term view. After all, the company plans to more than double its store footprint over the next eight years. At the end of FY 2017 the company had 2,135 stores in operation, but management plans to increase this to 4,650 stores by 2025. I expect the combination of this store expansion and its aim to expand its margins greatly should lead to bumper profit growth.
Ramsay Health Care Limited (ASX: RHC)
In my opinion there are few shares on the local market with as strong long-term growth prospects as this private hospital operator. Thanks to ageing populations, improved treatments, and increased chronic disease burden, I expect Ramsay to deliver strong organic growth over the next couple of decades. The company also has the option to capitalise on these tailwinds and accelerate its growth through acquisitions and expansions to existing sites.
