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3 growing small cap ASX shares to watch

MyDeal.com.au Limited (ASX:MYD) and these ASX small cap shares are growing quickly and could be worth watching very closely…
The post 3 growing small cap ASX shares to watch appeared first on The Motley Fool Australia. –

Two happy people use their hands as binoculars, indicating a positive ASX share price or on watch

Are you looking to add some exposure to the small side of the market to your portfolio? Then you might want to get better acquainted with the ASX shares listed below. 

Here’s why these small cap ASX shares could be ones to watch:

MyDeal.com.au Limited (ASX: MYD)

MyDeal.com.au is an online retail marketplace. Thanks to the shift to online shopping, which has accelerated because of the pandemic, MyDeal has been growing very strongly over the last 12 months. For example, MyDeal’s first half gross sales increased 217% over the same period last year to $126.7 million. This was driven by a strong increase in active customers to a record 813,764 and repeat use.

PlaySide Studios Limited (ASX: PLY)

PlaySide Studios is one of the largest independent video game developers in the country. Its portfolio includes games based on its own original intellectual property and games developed with Hollywood studios. The latter comprises titles relating to Jumanji, The Walking Dead, Batman, Superman, Teenage Mutant Ninja Turtles, and Disney Pixar’s Cars. In FY 2020, the company delivered a 55% increase in revenue to $7 million. This is only a fraction of the global mobile games market which is estimated to be worth $77.2 billion per annum.

SILK Laser Australia Limited (ASX: SLA)

As its name implies, SILK Laser is a laser, skin care, and cosmetic injections company. It has been a strong performer in FY 2021 despite the pandemic. As of the end of the first five months of the financial year, its unaudited network cash sales were up 63% on the prior corresponding period to $38 million. This means the company is on track to beat its forecasts for the year. Looking ahead, management sees plenty of room for growth. At present, SILK has a total of 53 clinics in operation, but management intends to grow its network by 6 to 10 new clinics per annum up to a total of approximately 150 clinics.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 3 growing small cap ASX shares to watch appeared first on The Motley Fool Australia.

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