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3 ASX growth shares I’m bullish on for 2022

ASX growth shares have had a brilliant run over 2021.

Subsequently, the local benchmark S&P/ASX 200 (ASX: XJO) is just 2.9% off its all time high. In fact, 10% of the index doesn’t even make a profit.

Despite the market looking quite toppy, here are three ASX growth shares I’m bullish on.

1. Alliance Aviation Services Ltd (ASX:AQZ)

Alliance Aviation is a plane charter business based in Queensland.

Its primary business is flying workers in and out of remote locations where commercial airlines like Qantas Airways Limited (ASX: QAN) and Virgin don’t service.

However, the secret sauce is management. When the airline industry or markets as a whole sell-off, Alliance goes and buys planes for pennies on the dollar.

Recently, the company added 32 new aircraft to its fleet and will ramp up flight hours from 30,000 in FY19 to 80,000 in FY22.

That’s nearly a three-fold increase and should translate into a similar increase in revenue and profits.

Source: AQZ AGM presentation
Source: AQZ AGM presentation

For more on the business, check out my Rask Media Alliance Aviation guide.

2. Temple & Webster Group Ltd (ASX: TPW) 

Several ASX retailers have provided trading updates in FY22 including:

But Temple and Webster has blown all of them out of the water, recording a 56% jump in sales over the first three and a half months of FY22.

The company is investing for growth, sacrificing short-term profit for long-term gains.

As a result, its margins don’t look that flash. But eventually, a lot of that extra spending should drop and profits start to accelerate.

Travel will eventually get back to normal, but I believe over the long run that will be more than offset by the shift to e-commerce.

3. EML Payments Ltd (ASX: EML)

After a difficult 2021 where the payment company came under the scrutiny of the Central Bank of Ireland (CBI), EML looks to have finally turned a corner.

EML share price

Source: Rask Media EML 1-year share price
Source: Rask Media EML 1-year share price

On Thursday, the company announced favourable conditions relating to the CBI investigation. The market jumped at the news, sending the EML share price 31% higher.

I suspect in 2022, the CBI issue will be largely behind EML and the market will see the underlying growth of the business.

If you enjoyed these 3 ASX growth shares ideas, consider signing up for a free Rask account and accessing our full stock reports.

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Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, Lachlan owns shares in EML Payments.
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