Growth stocks can be promising tools for those investors who like to lock in gains for the long haul. These stocks possess the attractive qualities of being a safety net during the low points and being high-growth investment vehicles.
Here are 10 of the Large ASX stocks for June:
Afterpay Ltd. (ASX: APT)
Afterpay has made a huge mark for itself within a short span of time. The BNPL firm saw a 5-fold increase in its share price over the pandemic-struck 2020. This increase was backed by Afterpay’s solid revenue growth throughout the year.
Despite certain speedbumps in the third quarter of FY21, the company managed to bring in sales growth of 104% over pcp. The US and the UK contributed to most of the increased sales. Afterpay continues to benefit from high-quality customer base as most of these customers have lower personal liabilities.
REA Group Ltd. (ASX: REA)
The real estate dealer was a haven for homebuyers during the pandemic. REA’s digital platform enabled buyers and sellers to communicate even during the lockdown. The company has a global presence, with its operations running in 3 continents.
REA’s profits resonate with the company’s claims of being Australia’s leading place for the property. For the nine months ended 31st March 2021, REA saw revenue of AU$655.9 million and an EBITDA of AU$415.1 million. This was a y-o-y increase of 8% and 13%, respectively. REA’s share price reached a record-high after its move to acquire Mortgage Choice Ltd. was approved by FIRB.
Macquarie Group Ltd. (ASX: MQG)
The global financial services provider is one of the strongest large-cap stocks on the market. The company has diversified operations running throughout the globe, giving it an edge over banks operating only locally.
The group posted a profit of AU$3 billion for the 12 months ending 31st March 2021, in addition to a full-year net operating income of around AU$12.8 billion, which was 10% higher than the previous year. Macquarie also announced a solid dividend payout of AU$3.35 per share on the back of these robust results.
Fortescue Metals Group Ltd. (ASX: FMG)
The mining industry’s pioneer Fortescue has seen monumental gains in the year as commodity prices soared, including that of iron ore. Owing to its success in the previous months, experts anticipate massive dividend yields in FY21 and FY22.
In the third quarter of FY21, the mining titan drew in average revenue of US$143/dry metric tonne, which was higher by 17% over the previous quarter. The company’s capital structure was bolstered through the issue of US$1.5 billion worth of Senior Unsecured Notes while its shipments remained in line with the previous year’s at 42.3 million tonnes.
Xero Ltd. (ASX: XRO)
New Zealand based Xero has an international presence that supersedes other aspects of the company. The company has become a global leader through the popularity of its cloud-based accounting software. The low subscription fee makes the software a hit among customers.
For the first half of FY21, Xero saw a 19% uptick in the number of its subscribers to reach a global customer base of 2.45 million. Being a tech company, Xero has room to innovate and entice its customers with something new on the table.
Sonic Healthcare Ltd. (ASX: SHL)
Sonic bolstered the pandemic through its earnings from Covid-19 testing. The company was at the forefront of the testing operation, leading to a massive uptick in its revenues over the last year. The company’s half-year profit for FY21 was up by a shocking 166% to AU$678 million.
For now, the stock seems like a dependable option, given that the testing operations would continue for some time, though at a slower rate. The company also has further plans for global expansion, making it positioned for large gains in future.
Australia and New Zealand Banking Group Ltd. (ASX: ANZ)
The banking giant is sailing on a path of financial recovery as bed debt is set to decline in the coming months due to improved employment figures. The faster-than-expected economic recovery was especially significant for the financial sector that was seeing pressure from record-low interest rates and a high level of borrowing.
For the 6 months ended 31st March 2021, ANZ bank reported a statutory net profit of NZ$930 million with an 8% drop in expenses. With Australia on the brink of recovery, these figures are expected to go up.
Westpac Banking Corporation (ASX: WBC)
Another financial sector pioneer on the list is the Westpac Bank which has been a highly reliable stock for long-term investors. The bank drew in cash earnings worth AU$3,537 million during the 6 months ending 31st March 2021. This marked an unparalleled increase of 256% in the cash earnings over pcp.
With a solid financial performance in the background, Westpac rolled out a fully franked interim dividend of 58 cps. Further, the bank aims to cut down on costs in the coming months.
Corporate Travel Management Ltd. (ASX: CTD)
The company is an established business travel manager with a global outreach. The company stated that it had witnessed an increase in revenue owing to the normalization of the conditions, although at a much slower rate.
For the first half of FY21, Corporate Travel Management drew in AU$56.48 million worth of revenue with a total transaction value of AU$403.8 million. The firm’s profits are expected to go up as international border open, and travel takes up the pace.
Idp Education Ltd. (ASX: IEL)
The global education provider is the co-owner of the IELTS exam, the most popular English language test in the world. The company plans to utilize the digital space to improve its global customer base. Additionally, the company plans to hire more tutors in the coming months, anticipating higher demand.
For the first half of FY21, the total revenue for Idp was AU$269 million with an EBIT worth AU$47.3 million. Improved international travel is expected to push the company’s revenue in the coming months.