If you're a fan of growth shares like I am, then you're in luck because there's a good number of quality companies trading on the Australian share market that I believe are capable of growing their earnings at a strong rate over the next decade.
Three that I would consider buying this month are listed below. Here's why I like them:
Aristocrat Leisure Limited (ASX: ALL)
Aristocrat Leisure is a leading gaming technology company which I believe is well-positioned for long term growth thanks to the strength of its leading pokie machine business and its fast-growing digital business. In the first half of FY 2019 Aristocrat Leisure delivered a 17% increase in normalised NPATA. This growth is expected to accelerate in the second half due to a number of key product releases during the period. And given the massive market opportunity that its digital business has thanks to the rise of social and mobile gaming, I feel confident that there will be more of the same in FY 2020 and beyond.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Domino's is one of the most divisive shares on the Australian share market. And whilst I acknowledge that the short term outlook for the pizza chain operator is a touch mixed, I believe this has already been built into its share price. In light of this, I think now is an opportune time to consider a long-term investment in its shares. After all, if the company delivers on its plan to double the size of its store network over the next seven years, this should mean solid earnings growth and market-beating returns for patient investors over the next decade.
WiseTech Global Ltd (ASX: WTC)
WiseTech Global is the logistics solutions company behind the increasingly popular CargoWise One platform. CargoWise One is a single-platform software solution used by a massive 12,000 logistics organisations across 130 countries. This includes 38 of the top 50 global third-party logistics providers and all the 25 largest global freight forwarders worldwide. This year the company expects to deliver a year on year increase in revenue of between 47% and 53%. And given how the CargoWise One platform has become an integral part of the the global supply chain, I believe it is well-placed to continue its strong growth for many years to come.
