I think there are a great number of high-quality mid cap growth shares on the Australian share market right now that would be great long-term investments.
Three that tick a lot of boxes for me are listed below. Here's why I like them:
Bingo Industries Ltd (ASX: BIN)
Arguably my favourite share in the mid cap space right now is this waste management company. Bingo Industries smashed expectations in the first half of FY 2018 when it delivered revenues of $141.7 million and pro forma net profit after tax of $21.3 million. This was a 43.2% and 37.1% increase, respectively, on the prior corresponding period. I expect the strong demand Bingo is experiencing, new contract wins, and recent price increases will lead to an equally strong second-half.
BWX Ltd (ASX: BWX)
Unlike Bingo Industries, BWX fell well short of expectations during the first-half of FY 2018. This was down partly to teething issues for some of its new acquisitions. While there are concerns that the new additions may not be as successful as first hoped, I think the selloff that ensued has been overdone. BWX's shares are down almost 40% from their 52-week high to a level that I think is attractive for buy and hold investors. I'm not alone in thinking this way. Last month the company's CEO picked up $800,000 worth of shares through an on-market trade.
Helloworld Travel Ltd (ASX: HLO)
Another company that outperformed the market's expectations during the first half of FY 2018 was Helloworld. It delivered an impressive 39.2% increase in net profit before tax to $26 million thanks largely to the growing demand for its integrated service offering. Although its shares have rallied 20% higher since this time last year, at just 17x estimated full-year earnings I think Helloworld is trading at a very attractive level.
