Tag: Motley Fool Australia

The Ardent Leisure Group Ltd (ASX: ALG) share price closed 10.4% higher yesterday, despite the company facing potential fines of up to $4.5 million. The operator of the Dreamworld Theme Park on the Gold Coast released a statement prior to the market open Tuesday addressing the filed charges.

Ardent addresses prosecution in relation to Dreamworld tragedy

Ardent Leisure released an announcement yesterday acknowledging the three charges that the Queensland Work Health and Safety prosecutor filed against the company. The charges were in relation to the ‘Thunder River Rapids Ride’ accident that occurred at Ardent Leisure’s Dreamworld them park in 2016. The tragedy resulted in the deaths of four patrons.

In the announcement, the company’s management expressed their sympathies to the families and friends impacted by the tragedy. In addition, Ardent noted that Dreamworld has taken proactive steps to improve safety across the theme park whilst also adapting to new amusement park safety regulations.

What charges have been filed against Ardent?

The Queensland Work Health and Safety Prosecutor lodged three, category 2 charges against Ardent Leisure, with each charge carrying a maximum penalty of $1.5 million. According to the prosecutor, Ardent Leisure failed to comply with its health and safety duty and exposed individuals to risk of serious injury or death. It is alleged the company failed to provide and maintain safe structures and proper training and supervision of staff.

The prosecutor’s investigation follows a coroner’s report released in February that criticised Ardent’s culture and practices. The coroner’s inquest outlined a series of safety breaches at Dreamworld over the past 30 years which resulted in avoidable deaths.

Why did the Ardent share price rally?

The Ardent share price initially started yesterday’s trading session around 4% lower before rallying to close more than 10% higher. Since there are no real positives to be gleaned from the recent news, it can be assumed that the higher percentage move is the result of Ardent’s share price being severely sold-down during the coronavirus pandemic.

Shares in Ardent Leisure were smashed during the height of the pandemic. After hitting a high of around $1.60 in January, the company’s share price crashed to a low of 10.5 cents in late March and is now trading at 37 cents.

The company is also facing a Federal Court class action from disgruntled shareholders who were impacted by the sharp plunge in the Ardent share price following the tragedy.

More reading

• ABS reveals which industries (and ASX shares) may rebound hard after COVID-19

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Apple (NASDAQ: AAPL) announced on Tuesday plans to make its entire business carbon neutral within the coming decade. Although the company’s global corporate operations already meet this standard, it’s extending the goal across its manufacturing supply chain and its products’ life cycle. In short, Apple is working to ensure that every device its sells will have no negative impact on the climate by 2030. 

The announcement came with the release of Apple’s 2020 Environmental Progress Report, which detailed the company’s plans to reduce its carbon emissions by 75% from current levels over the next 10 years.

A multipronged approach

Apple has developed a far-reaching strategy to achieve its ambitious goals to eliminate its contributions to climate change and help others fight the threat.

It’s working on a number of “nature-based solutions” to remove carbon from the atmosphere. Apple has established a fund to protect forests, restore forestation, and improve forest management. The company is also working with groups like The Conservation Fund, the World Wildlife Fund, and Conservation International to restore degraded savannas in Kenya and mangroves in Columbia.

Apple is also focusing on renewable energy projects to reduce its carbon footprint. The company will invest $100 million in energy efficiency projects with its suppliers, expanding the work beyond its own processes. Last year, Apple invested in a number of upgrades to boost its own energy efficiency, reducing electricity usage by nearly 20% and saving roughly $27 million in the process.

The company will concentrate heavily on the area of product design to achieve its lofty environmental goals. Apple plans to increase the use of recycled materials in its manufacturing processes, as well as using more low-carbon materials. The company is working with suppliers to develop a carbon-free aluminum smelting process.

Apple also created a robot named “Dave” to recover key rare earth materials from used iPhones.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Danny Vena owns shares of Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple. The Motley Fool Australia has recommended Apple. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The S&P/ASX 200 Index (ASX: XJO) was in sensational form on Tuesday and stormed to a four-month high.

Some ASX shares were in even better form yesterday and surged to record highs.

Three that have just achieved this feat are listed below. Here’s why they are on fire right now:

Appen Ltd (ASX: APX)

The Appen share price raced to a new record high of $38.47 on Tuesday. The shares of the global leader in the development of high-quality, human-annotated training data for machine learning and artificial intelligence have been on fire this year thanks to its strong FY 2019 result in February and its positive guidance for the current financial year. In respect to the latter, Appen is expecting to deliver underlying EBITDA in the range of $125 million to $130 million this year. This represents a 23.8% to 28.7% increase on FY 2019’s underlying EBITDA of $101 million. Management has reaffirmed this guidance twice during the pandemic.

Kogan.com Ltd (ASX: KGN)

The Kogan share price raced higher and hit a new record of $18.65 yesterday. Investors have been fighting to get hold of the ecommerce company’s shares after the pandemic accelerated the shift to online shopping and put a rocket up Kogan’s sales growth. Pleasingly, despite physical retail stores opening as normal over the last couple of months, sales on its website remain exceptionally strong. For the three months ending 30 June 2020, Kogan’s gross sales grew by more than 95% and its gross profit increased by over 115%. Things were even better for its adjusted EBITDA, which lifted more than 149% during the fourth quarter. This took its adjusted EBITDA growth to over 57% for the full year.

NEXTDC Ltd (ASX: NXT)

The NEXTDC share price continued its positive run and hit a record high of $11.61. Investors have been buying the data centre operator’s shares in 2020 after the pandemic accelerated the shift to the cloud. This led to very strong demand for capacity in its centres from blue chip customers. As a result of the strong demand, the company is pulling forward capacity expansion plans and the construction of new data centres. This appears to have positioned NEXTDC to deliver very strong earnings growth over the medium term.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 jumps 2.6% on vaccine hopes and jobkeeper
• These ASX eCommerce shares are riding the online shopping wave
• My top 5 ASX growth shares to buy in FY 2021
• Where to invest $10,000 into quality ASX 200 shares

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Kogan.com ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) rocketed 2.6% higher to close at a four-month high on Tuesday.

That’s good news for investors who have ridden ASX 200 shares higher since the March bear market.

The benchmark Aussie index has now rebounded 35.4% higher since 23 March. That’s been led by some of the biggest companies like Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd (ASX: BHP).

But have ASX 200 shares been overbought at their current valuations or is there something else at play?

The argument for why they’re overbought

I think the easiest argument is just to compare where we are now versus the start of the year. 

The benchmark index is back to where it was in early March. A lot has changed since then in terms of economic growth and corporate earnings.

Arguably, the current climate means that most ASX 200 shares are not worth what they were back in March. However, share price valuations tend to say otherwise.

In fact, the JB Hi-Fi Limited (ASX: JBH) share price has climbed 14.6% in 2020. That’s despite difficult conditions for the Aussie retail sector as a result of the pandemic restrictions and significant unemployment.

All of this could indicate that ASX 200 shares have been overbought and are trading above their intrinsic value right now.

But ASX 200 shares could continue to climb

There are a couple of key factors that support ASX 200 shares continuing to climb higher in 2020.

One is the significant government stimulus being deployed right now. The Federal Government has pumped billions of dollars into the economy in the form of JobKeeper, JobSeeker and other initiatives.

According to an article in yesterday’s Australian Financial Review, that trend may continue in 2020. AMP Capital portfolio manager, Dermot Ryan, suggested ‘markets continue to want to trend higher’ despite some challenges facing the Aussie economy.

There’s also been a strong response from central banks around the world. That has helped boost market liquidity and allow companies to fuel growth with cheap borrowing rates.

Also adding to the bullish scenario is the record low-interest rate environment. Even if investors want a lower risk investment, savings account and bond rates are at all-time lows.

That means any spare capital is likely to be directed towards the share market. As a result, ASX 200 shares may continue to push higher due to limited investment options to deploy this additional cash right now.

Foolish takeaway

I’m not sure if ASX 200 shares have been overbought in 2020. However, I’m certainly not willing to bet against the world’s governments and central banks.

Add in the possibility of a quicker than expected economic recovery and I think I’ll keep buying ASX 200 shares in 2020.

More reading

• Is the Brambles share price a hidden buy?
• Is the Tassal share price a potential outperformer?
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 jumps 2.6% on vaccine hopes and jobkeeper
• Why Morgans thinks the Afterpay share price could be a reporting season hero

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Brambles Limited (ASX: BXB) share price has climbed 19.4% higher since March but is the S&P/ASX 20 company a buy?

What does Brambles do?

Brambles is a global supply chain logistics business operating in over 50 countries. The group specialises in the pooling of unit-load equipment, pallets, crates and containers.

The company’s most prominent brands are Commonwealth Handling Equipment Pool (CHEP) and IFCO.

Brambles listed on the ASX in November 2006 and is now an ASX 20 company with a $16.7 billion market capitalisation.

How good are the company’s financials?

Clearly the coronavirus pandemic has made earnings outlooks uncertain. However, Brambles’ half-year result in February was broadly positive.

One factor that could make the Brambles share price a buy is the company’s strong earnings growth.

Sales revenue climbed 7% and landed in the upper end of Brambles’ guidance range. 4% of that was attributed to volume driven by strong demand from the CHEP pallet business.

Underlying profit climbed 5% to US$435.5 million for the half-year with a minor improvement in its United States segment margin and cash flow.

Overall, I was impressed with Brambles’ half-year result. The big question now is whether the Aussie company can follow that up with another good result in August.

What do the share price metrics say?

As I said, the Brambles share price has climbed 19.4% higher since mid-march. However, it remains down 4.9% for the year.

That’s still an outperformance against the S&P/ASX 200 Index (ASX: XJO) but no doubt investors will want more.

The Brambles share price is trading at a price-to-earnings (P/E) ratio of 8.6 right now. That’s not bad in the current climate but could also be unreliable given the pandemic’s potential impact on earnings.

The company’s 2.52% dividend yield is nothing to sneeze at but is also far from certain to be maintained this year.

Has Brambles provided any recent updates?

In its April third-quarter trading update, Brambles forecast FY20 sales revenue growth of 5-7% at constant-FX rates. FY20 underlying profit growth is expected to come in at 3-5% at constant FX rates and including AASB16 impacts.

Those earnings are underpinned by fortunate industry dynamics. For instance, 80% of the CHEP pallets business revenues come from the consumer staples sector like supermarkets which have seen strong demand in 2020.

The company also noted its ‘conservative balance sheet and strong liquidity profile’. That, combined with reaffirming its February guidance for FY20, could make the Brambles share price a hidden buy.

Is the Brambles share price a buy?

Overall, I think the company’s 8.6 P/E makes the Brambles share price at least worth considering.

In the current climate, cash is king. With a strong balance sheet and significant expected cash flow generation in FY20, the Brambles share price could be headed higher this year.

More reading

• Are ASX 200 shares overvalued right now?
• Is the Tassal share price a potential outperformer?
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 jumps 2.6% on vaccine hopes and jobkeeper
• Why Morgans thinks the Afterpay share price could be a reporting season hero

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Could salmon be the secret to outperforming the S&P/ASX 200 Index (ASX: XJO) this year?

The Tassal Group Limited (ASX: TGR) share price is down 10.1% this year. That means the Aussie salmon producer isn’t smoking its ASX 200 peers just yet.

But, is now the perfect chance to snap up Tassal shares for a bargain ahead of the company’s August earnings?

What does Tassal do?

Tassal is an Australian seafood producer based in Tasmania. It is the largest producer of Tasmanian grown Atlantic salmon across domestic and international markets.

According to Tassal’s FY19 Annual Report, 50.3% of its $551.3 million sales revenue came from the domestic retail market. Domestic wholesale contributed $185.5 (33.6%) million while exports comprised $88.5 million (16.1%).

The group’s products fall into four categories: fresh deli, canned, smoked and fresh packaged. 

What do the numbers say?

The Tassal share price has fallen 10.1% this year. The company’s shares are trading at a price-to-earnings (P/E) ratio of 10.8 right now.

It’s hard to get comparable companies given Tassal’s unique operations and cost structure. However, a 10.8 P/E could suggest the Aussie salmon producer is a good value buy.

The company’s February half-year earnings were well-received by investors. In fact, the Tassal share price soared 9% higher on the back of the strong result.

Total salmon sales fell 14.4% with a 0.6% increase in domestic salmon sales offsetting a 45.9% decrease in exports.

The company forecast positive market dynamics for both salmon and prawns back in February. That was all pre-coronavirus but I think there are still some good signs.

Aussie supermarket sales have been strong as highlighted by growth in the Coles Group Ltd (ASX: COL) updates and share price gains.

There is still plenty of uncertainty around agriculture and aquaculture. However, I think we could see steady demand when Tassal delivers its full-year result in August.

Is the Tassal share price good value?

The Aussie food producer is certainly an interesting company. I like that Tassal is continuing to expand with its strategic investment in De Costi Seafoods.

The company is also looking to diversify away from its salmon-producing roots. That strategy is being largely driven through its investment in the higher-yielding prawn aquaculture industry.

I think Tassal’s significant investment in smart-farming could also pave the way to long-term operational efficiency and reduced expenditure.

Foolish takeaway

The numbers suggest that the Tassal share price is reasonably valued. However, I’m not sure the Aussie aquaculture company is a cheap buy.

Much of that potential value will depend on its August full-year earnings and outlook.

More reading

• Are ASX 200 shares overvalued right now?
• Is the Brambles share price a hidden buy?
• 5 things to watch on the ASX 200 on Wednesday
• I would buy Coles and these ASX dividend shares right now
• ASX 200 jumps 2.6% on vaccine hopes and jobkeeper

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Tuesday the S&P/ASX 200 Index (ASX: XJO) was in sensational form and surged notably higher. The benchmark index jumped 2.6% to 6,156.3 points.

Will the market be able to build on this on Wednesday? Here are five things to watch:

ASX 200 expected to give back some gains.

The ASX 200 index looks set to give back some of its gains on Wednesday. According to the latest SPI futures, the benchmark index is expected to open the day 62 points or 1% lower. This follows a mixed night of trade on Wall Street which saw the Dow Jones climb 0.6% higher, the S&P 500 rise 0.2%, and the Nasdaq drop 0.8%.

Tech shares on watch… again.

Tech shares such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX) were exceptionally strong performers on Tuesday after following the lead of their U.S. counterparts. However, it looks likely that they may give back some of these gains on Wednesday after major tech companies on the Nasdaq index tumbled lower overnight. Profit taking put pressure on the likes of Facebook, Amazon, and Apple.

Oil prices jump.

It looks set to be a positive day for energy producers such as Oil Search Limited (ASX: OSH) and Woodside Petroleum Limited (ASX: WPL) on Wednesday after oil prices jumped higher. According to Bloomberg, the WTI crude oil price rose 2.3% to US$41.76 a barrel and the Brent crude oil price pushed 1.7% higher to US$44.01 a barrel. Coronavirus vaccine hopes gave oil prices a major lift.

Gold price storms higher.

Gold miners including Evolution Mining Ltd (ASX: EVN) and Saracen Mineral Holdings Limited (ASX: SAR) will be on watch on Wednesday after the gold price stormed higher. According to CNBC, the spot gold price rose 1.4% to US$1,842.80 an ounce after the U.S. dollar weakened further.

BHP rated as a buy.

Analysts at Goldman Sachs think the BHP Group Ltd (ASX: BHP) share price offers value for investors. This morning the broker has retained its buy rating and $38.80 price target on the mining giant’s shares. It likes the Big Australian due to its valuation, strong and improving free cash flow, high returning green/brownfield projects, and possible portfolio optimisation/assets sales.

More reading

• ASX 200 jumps 2.6% on vaccine hopes and jobkeeper
• Why Morgans thinks the Afterpay share price could be a reporting season hero
• 4 exciting ASX biotech shares surging higher today
• Why the Telstra share price is underperforming the market
• My top 5 ASX growth shares to buy in FY 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Altium. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Fortunately for income investors in this low interest rate environment, there are plenty of dividend shares that offer superior yields to those that you’ll find with term deposits and savings accounts.

Three strong ASX dividend shares that I would buy today are listed below. Here’s why I like them:

BWP Trust (ASX: BWP)

BWP is a real estate investment trust which has strong ties with Wesfarmers Ltd (ASX: WES). Not only are the majority of BWP’s warehouses leased to the conglomerate’s Bunnings business, Wesfarmers is also a major BWP shareholder. I see this as a big positive as I feel the Bunnings owner is very unlikely to do anything that would have a negative impact on BWP’s performance and ultimately its investment. As a result, I believe the company is well-placed to continue delivering consistent income and distribution growth over the next decade. Based on the latest BWP share price, I estimate that it offers investors a forward 4.7% yield.

Coles Group Ltd (ASX: COL)

Another dividend share that has close ties with Wesfarmers is Coles. It was spun out of the conglomerate back in 2018. Since then it has been onwards and upwards for the supermarket giant’s share price. Despite this, I don’t believe it is too late to invest. I’m confident that it can grow its earnings and dividend at a solid rate over the next decade thanks to its defensive earnings, refreshed strategy, expansion opportunities, and its focus on automation. For now, based on the current Coles share price, I estimate that its shares offer a fully franked 3.4% FY 2021 dividend.

Transurban Group (ASX: TCL)

A final dividend share to consider buying is Transurban. I think it would be a great long term option for patient investors. This is because although its performance is likely to underwhelm in the immediate term, I expect a swift recovery for its toll roads once the pandemic passes. I also expect the same for its distributions and believe a 44 cents per unit distribution is possible next year. Based on the current Transurban share price, this equates to a 3.1% distribution yield.

More reading

• Should infrastructure be part of your investment strategy?
• Why the Telstra share price is underperforming the market
• You probably shop at these 7 ASX retailers. Should you buy shares in them too?
• Is the NIB, AMP or BWP share price a strong buy?
• The Coles share price is flying under the radar

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Transurban Group, and Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Pantoro Ltd (ASX: PNR) share price soared 17.39% higher today to close trade at 27 cents per share. This positive share price action came after Pantoro announced this morning that it had encountered high grade mineralisation in its maiden drilling campaign at the Sailfish prospect on Lake Cowan.

What does Pantoro do?

Pantoro is an Australian gold producer. The company’s Halls Creek gold project in the Kimberley region of Western Australia is its key operational focus. The project provides Pantoro with a platform for growth through the operation of its first producing gold asset and includes underground and open pit mines, and a modern processing facility.

Why did the Pantoro share price storm higher today?

Pantoro announced very high grade mineralisation was encountered in its maiden drilling campaign on Lake Cowan. These finds demonstrated the sheer potential of the site, with the potential for more high grade finds in the future. Some of the key highlights were as follows:

• Drilling returned 8.1 m @ 67.29 g/t Au from 78.6 m down hole
• The intersection included 0.7 m @ 521 g/t and 0.25 m @ 252g/t Au.
• Other significant intercepts include 1.8 m @ 4.25 g/t Au, and 3.5 m @ 2.56g/t Au.
• Confirms historical intersection of 1.5 m @ 461.47 gt/Au, drilled by Western Mining in 1992

Commenting on the results, Pantoro managing director Paul Cmrlec said: “These results from our initial eight diamond drillhole program at the Sailfish prospect on Lake Cowan highlights the immense exploration potential of the project, and in particular the likely presence of further very high grade mineralisation that Norseman has been known for over many decades.”

What now for the Pantoro share price

Whilst the discoveries are excellent news, the company advises the exploration is in very early stages and so it is too early to speculate what the results may mean in the context of the broader project. Nonetheless, the results are definitely a positive for Pantoro.

Pantoro has seen a strong resurgence in its share price this year, climbing almost 280% since its lows in March. The Pantoro share price is up 63% since this time last year, and the company’s market capitalisation is currently sitting around the $270 million mark. 

More reading

• Nanosonics and these ASX shares could be fantastic long term options
• The smartest ASX shares to buy if you have $2,000
• ASX 200 jumps 2.6% on vaccine hopes and jobkeeper
• Where to invest $3,000 in ASX shares right now
• Afterpay and 1 other ASX tech share to buy and hold beyond 2030

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Interested in adding some mid cap ASX shares to your portfolio? Then you might want to take a look at the ones listed below.

I believe these three ASX mid cap shares have the potential to generate strong returns for investors over the 2020s:

EML Payments Ltd (ASX: EML)

EML Payments is a payments company with a focus on pre-paid cards and digital gift cards. It provides its services to a wide range of businesses such as shopping centres, bookmakers, and salary packaging companies. Unfortunately, its meaningful exposure to shopping malls means the pandemic will inevitably weigh on its second half performance. However, I believe it is well-positioned to accelerate its growth once the crisis passes. Especially given the recent acquisition of UK-based Prepaid Financial Services. This has diversified its offering and gives EML access to the emerging field of banking as a service.

Jumbo Interactive (ASX: JIN)

Another mid cap ASX share to consider buying is Jumbo. I’m a big fan of the online lottery ticket seller due to its growing Software as a Service (SaaS) business and its long term agreement with Tabcorp Holdings Limited (ASX: TAH). Although the latter agreement is on less favourable terms compared to previous agreements, it provides stability and allows the company to focus on the international expansion of its SaaS business. This business is expected to play a key role in the company achieving its target of $1 billion in ticket sales through its platform by FY 2022. This will be triple what it achieved in FY 2019.

Nanosonics Ltd (ASX: NAN)

A final mid cap share to consider buying is Nanosonics. The infection prevention company is one of my favourite growth shares on the Australian share market due to its extremely positive long term outlook. This is thanks to the sustained demand for its industry-leading trophon EPR disinfection system for ultrasound probes and the expansion of its product portfolio. The latter will see Nanosonics launch a number of new infection control products targeting unmet needs in the coming years. Given its reputation in the industry and existing distribution channels, I’m optimistic that these products will sell well and drive further strong earnings growth over the 2020s.

More reading

• 4 ASX 200 shares to buy with $4,000
• How you could have turned $20,000 into $850,000 in 10 years with ASX shares
• How I’d build a $100,000 ASX portfolio of growth shares
• Where to invest $1,000 into ASX shares immediately
• Why the Pointsbet share price is outperforming today

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Emerchants Limited and Jumbo Interactive Limited. The Motley Fool Australia has recommended Nanosonics Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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