I'm a big fan of growth shares and feel spoilt for choice with the amount of quality options listed on the Australian share market.
Three that I think are among the best on offer right now are listed below. Here's why they could be worth considering this month:
CSL Limited (ASX: CSL)
This global biotech company could be a great option for growth investors this month. Although its shares have been on a solid run over the last four weeks and climbed over 11%, I don't believe it is too late to make an investment if you're prepared to hold onto its shares for the long-term. Thanks to strong immunoglobulin demand, its expanding plasma collection network, a pipeline of lucrative products, and its fast-growing influenza business, I believe CSL is well-positioned to achieve above-average earnings growth over the coming years.
IDP Education Ltd (ASX: IEL)
IDP Education is a provider of international student placement services and English language testing services. A note out of the Macquarie equities desk this week revealed that the latest student visa data shows that strong growth trends have continued. This should put the company in a great position to build on its impressive result last year. In FY 2018 IDP Education posted a 24% increase in revenue to $487 million and a 30% lift in EBITDA to $89 million thanks to growth from all sides of its business.
Reliance Worldwide Corporation Ltd (ASX: RWC)
Reliance Worldwide is plumbing parts company best known for its push to connect SharkBite products. Although it is hardly the most exciting business to invest in, I believe it could be a very rewarding one over the long-term. Especially if its $1.2 billion acquisition of the UK-based John Guest business proves to be a success. Management believes the acquisition has a strong strategic fit and is aligned with its strategy to add complementary products and expand its market presence.
