Hello my name is …....and thanks for tuning in to Kalkine Media.
Are you an investor looking for some good growth stocks? We have got you five growth
stocks listed on the ASX that were in news recently due to some positive developments
around them and can be included in the portfolio before the year ends.
Let us first understand what a growth stock is?
A growth stock belongs to a company which delivers substantial and sustainable positive cash flow
compared to an average company within the same industry. The revenue and
earnings of growth stocks are expected to grow at a faster rate than their peers in the industry.
Investors are generally highly attracted to growth stocks since these can deliver relatively large
gains within a short span. Shares belonging to technology and innovation-oriented firms
are usually considered as top growth stocks.
Now, there are several ASX-listed growth stocks that have offered returns
much higher than their peers so far this year.
The first stock to look at is ELMO Software Ltd (ASX:ELMO)
The HR and payroll platform provider Elmo has reported strong growth in the past few years,
including the COVID-19 pandemic time. The platform enables businesses to simplify
and streamline a wide range of tasks.
Strong recurring revenue growth of the company is due to robust demand from users.
The second growth stock on our radar is Sonic Healthcare Ltd (ASX:SHL)
This pathology healthcare company has operations in Australia, New Zealand,
North America, and Europe. The company has done around 30 million COVID-19 tests so
far. The COVID-19 PCR test volumes have increased again with the spread of the Delta variant. The
company has also emerged as Australia’s largest non-government COVID-19 vaccination provider.
Sonic also reported strong financial results in the Financial Year 2021.
Moving on to the third stock - Papyrus Australia Ltd (ASX:PPY)
Papyrus Australia is an agricultural waste fibre technology company. The company converts banana
palm’s waste trunk and plantain into alternatives to forest wood products.
The company reported strong financial results in its Financial Year 2021 preliminary annual report.
Next stock to look at is Amcor CDI (ASX:AMC)
Amcor PLC is a packaging company. The company performed on a
strong note in the Financial Year 2021 and has great expectations in the coming year as well.
And the last stock at is Resapp Health Limited (ASX:RAP)
The company is engaged in digital healthcare solutions to assist doctors and patients to
diagnose and manage respiratory disease. The company raised capital of around
completed 5.5 million dollars to boost its product development opportunities. The healthcare provider
also inked a commercial deal with an Australian
telehealth company - Doctors on Demand, to launch its ResAppDx. In addition, telehealth provider
– Medgate AG extended the pilot trial of ResAppDx across its market in Switzerland.
To sum up these five ASX growth stocks are worth eyeing before the year 2021 comes to an end.
That is all for now, keep watching Kalkine
Media for all such stock related insights. This is …..signing off.