2 of the best growth stocks to buy today?

I’m searching for the best growth stocks to buy for my shares portfolio. I think these top UK shares could help me to make BIG returns.

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I’m hunting for the best growth stocks to buy as 2022 gets up and running. Here are two top UK shares on my shopping list today.

Grabbing a slice of something nice

Consumer spending is coming under pressure, but I think Domino’s Pizza Group (LSE: DOM) could be poised to thrive. It might even benefit if people switch down from going on more expensive nights out to staying indoors and ordering takeout.

I’d buy Domino’s because the UK online food delivery is tipped for strong and sustained growth. And this particular operator has the brand power to make the most of this opportunity. Researchers at Statista think the British takeaway delivery market will be worth £12.6bn by 2024. That compares with the £10.5bn it was valued at last year.

Domino’s Pizza has a long record of unbroken annual earnings growth behind it. And City analysts expect the company to keep this going with bottom-line rises of 2% and 4% respectively. Sure, these numbers aren’t exactly spectacular. But in uncertain times like these I think a reliable growth generator like this UK share could be worth its weight in gold.

I am going to keep in mind that a shortage of drivers at Domino’s has been affecting its ability to meet orders and to push up costs. This is a problem that could take a big bite out of profits going forwards. It’s interesting to see that the company’s US cousin is offering customers a $3 incentive to pick up their pizzas instead of opting for home delivery!

One of the best counter-cyclical stocks to buy?

Unfortunately the cost of living and operating a business in Britain is rocketing. It’s a scenario that threatens to send the number of corporate insolvencies through the roof. So I expect demand for financial services business Begbies Traynor Group (LSE: BEG) to remain strong.

The Federation of Small Businesses (or FSB) commented last month that “thousands of small businesses are on a knife-edge” following a tough Christmas period. It looks like things could continue to get worse before they get better, too, as energy prices increase and interest rates rise. As the FSB notes, Bank of England action this week “will heap pressure on many indebted businesses”.

This is particularly concerning as corporate insolvency rates are already ballooning. Government data shows that there were 1,486 such insolvencies in December, up 20% year-on-year and 33% higher from levels recorded in December 2019.

It’s no surprise that City analysts think Begbies Traynor — which provides insolvency services and other support to distressed firms — will remain busy. They’re expecting earnings to rise 28% and 10% in the financial years to April 2022 and 2023 respectively. Stronger-than-expected economic improvement could hit these profit forecasts and dent my returns as a potential investor. 

I think it’s a great stock to buy for my portfolio, but not just for the near term. Its acquisitions have delivered strong profits growth for the past half a decade, and the company remains committed to expansion through M&A activity. 

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has recommended Dominos Pizza. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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