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3 top penny stocks I’m considering buying in March!

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Image source: Getty Images

I’m searching for the best penny stocks to buy for my portfolio this month. Here are three on my radar right now.

Accrol Holdings

Buying shares in companies that make supermarket own-brand goods could be a good idea today. Toilet and kitchen roll manufacturer Accrol Holdings (LSE:ACRL) is one such business on my investing shortlist.

People are increasingly switching down from more expensive brands as the cost-of-living crisis endures. Kantar Worldpanel notes that “sales of these lines are up by 13.2% this month, well ahead of branded products at 4.6%”. It added that this is “a trend that shows little sign of stopping”.

Accrol’s revenues soared 64% in the six months to October as shoppers tightened their purse strings. And I believe the small-cap share is more than just a good stock to buy in the current climate. Value retail is tipped for further strong long-term growth as consumers become savvier with their cash.

Rising costs pose a danger to the firm’s bottom line. But the prospect of booming volumes still makes this an attractive investment, in my book.

City Pub Group

The pub industry suffered a tough 2022 as Covid-19 turbulence remained and consumers cut back on spending. Revenues at businesses such as City Pub Group (LSE:CPC) could remain under pressure as the cost-of-living crisis endures too.

Yet recent strong trading suggests the business could continue to defy the broader slowdown. Sales at the business — which operates 44 premium pubs in South England and Wales — rose 25% in the first four weeks of 2023, beating expectations.

City Pub has two big weapons in its arsenal. Its estate is largely located across more affluent parts of the country. It is also focused on selling food and drink at the higher end of the market. The kind of customers it attracts are therefore less likely to cut back on nights out during economic downturns.

As an investor, I’m also attracted by it strong balance sheet. This should give it the firepower to execute more growth-boosting acquisitions.

Van Elle Holdings

The UK will have to rev up housebuilding activity in the coming decades. The government has set a target of 300,000 new homes a year to meet the needs of a growing domestic population.

This is why I think Van Elle Holdings (LSE:VANL) could be a great stock for long-term investors like me to own. The business is a ground engineering contractor that carries out piling work and installs foundations at residential sites.

I also like this penny stock because of its expertise in critical infrastructure including roads, rail, utilities and flood prevention. Spending in these areas remain stable during economic upturns and downturns, giving the penny stock excellent earnings visibility.

Van Elle has terrific momentum today and reported record first-half revenue in the period to October. Sure, a failure of its systems is a constant risk that could damage future business wins. But, on balance, I think it could prove an outstanding buy.

The post 3 top penny stocks I’m considering buying in March! appeared first on The Motley Fool UK.

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Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. 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.

Motley Fool UK 2023