2 UK growth stocks I plan to hold for 10 years or more!

I expect these UK stocks to deliver solid earnings growth over the long term. And I think they’re exceptional buys for this period of huge uncertainty too.

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Here are two UK top growth stocks I plan to hold on to for the next decade.

CVS Group

The veterinary care market is growing rapidly. Pet adoption is on a long-term uptrend, and so is the amount people spend on their companion animals. It’s why I’ve bought shares in animal medicine giant CVS Group (LSE:CVSG).

Stunning trading numbers from Pets at Home this week underline the wisdom of owning animalcare stocks like this. Like-for-like sales here rose 7.9% during the 12 months to March, led by strong growth at its vetcare arm.

Comparable revenues shot 13.4% higher year on year. These numbers are even more impressive considering we are currently in a cost-of-living crisis.

CVS has also remained remarkably resilient in recent times. The business — which has around 500 vet practices across the UK, Ireland and the Netherlands, as well as a smattering of diagnostic centres and pet crematoria — reported a 7.5% increase in like-for-like sales for the six months to December.

Now, I’m not expecting the Alternative Investment Market (or AIM) firm to report spectacular earnings growth any time soon. A shortage of vets and nurses is one threat that it will have to overcome to keep increasing profits.

But the essential nature of its services leaves the company in great shape for decent-if-unspectacular growth. City analysts are tipping annual growth of 5% to 7% through the next three years. This is something I’m happy to bank in the current climate.

I am excited about the company’s options to boost growth further out, too. It remains hungry for acquisitions and has significant options to expand in highly fragmented European markets. And it can expect sales at its Animed Direct online retail channel to keep rising strongly as e-commerce grows.

Primary Health Properties

A growing elderly population is driving demand for healthcare services in the UK to record highs. This is why I bought Primary Health Properties (LSE:PHP), another medical stock I plan to hold for the next decade.

As its name indicates, this FTSE 250 company owns and operates primary healthcare facilities such as doctors’ surgeries. These sorts of properties are on the front line of NHS reform as ministers try to divert patients away from packed hospitals. This is the catalyst that should keep the firm’s long record of annual earnings growth going.

Primary Health Properties is an especially attractive share to own in the current climate. Its defensive operations mean City analysts expect profits to keep rising (increases of 1% and 3% are tipped for 2023 and 2024 respectively).

Property stocks like this one also provide investors with protection from rampant inflation. It can effectively raise rents in line with prices to cover increased costs. And because the income it receives is guaranteed by government bodies it doesn’t have to worry about rents not being paid.

Changing NHS policy could damage earnings growth here in future. But right now I believe things are looking extremely bright for investors.

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 positions in Cvs Group Plc and Primary Health Properties Plc. The Motley Fool UK has recommended Pets At Home Group Plc and Primary Health Properties Plc. 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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