When it comes to growth shares I believe that Australian investors are a lucky bunch with a great number to choose from.
But with so much choice it can be hard to decide which ones to buy. So to help you on your way I have picked out three of my favourites at the moment.
Here's why I think they are worth considering today:
Aristocrat Leisure Limited (ASX: ALL)
Above all else, I have been very impressed at the growth of this gaming company's digital segment. While its core pokie machine business remains strong, I don't think it will be long before its digital segment is the main breadwinner. Especially considering the recent acquisitions it has made. This has bolstered its portfolio with a number of popular mobile and social games, putting Aristocrat Leisure in a position to continue growing its recurring revenues.
Altium Limited (ASX: ALU)
I believe that this software-as-a-service company is a great option for investors due to its exposure to the rapidly growing Internet of Things market. As almost all connected devices require a printed circuit board (PCB) inside them, I expect demand for Altium's award-winning PCB design software will increase greatly and ultimately lead to bumper profit and dividend growth. Management appears confident that this will happen and has targeted revenue of US$200 million by FY 2020. This will be almost double the revenue it generated in FY 2017.
Domino's Pizza Enterprises Ltd. (ASX: DMP)
While this former market darling has been a bit of a disappointment of late, I feel confident that it could prove to be an excellent buy and hold investment thanks partly to its store expansion. The pizza chain operator is targeting 4,650 stores by 2025, more than double its store count at the end of FY 2017. As well as this, management aims to use technology and innovation to vastly widen its margins over the next few years. I believe this could lead to strong profit growth once again.
