3 Shares Set To Enjoy Exceptional Growth Beyond 2015: Lloyds Banking Group PLC, British American Tobacco plc And BT Group plc

Today I am looking at three FTSE 100 superstars expected to deliver delicious earnings growth in 2015 and beyond.

Lloyds Banking Group

Boosted by a perky uptick in retail revenues on the back of an improving UK economy, I believe that Lloyds Banking Group (LSE: LLOY) (NYSE: LYG.US) is in terrific shape to enjoy splendid earnings growth in the coming years. On top of this, the part-nationalised bank’s Simplification restructuring strategy still has plenty left in the tank, and further extensive cost-cutting, combined with improved automation, should also help to enhance the bottom line.

Lloyds has seen losses narrow considerably in recent years, and the bank is finally expected to have bounced back into the black in 2014, swinging from losses of 1.2p per share in 2013 to earnings of 7.8p last year. This would mark a watershed in the company’s fortunes, with the bank anticipated to punch further earnings rises to the tune of 5% in both 2015 and 2016.

As a consequence Lloyds changes hands on ultra-low P/E multiples of 9.2 times for this year and 8.7 times for 2016, comfortably below the value watershed of 10 times. The problem of mounting legal bills continues to haunt the business, of course, although it could be argued that these risks are currently baked into the share price.

British American Tobacco

Reports this week that the UK is preparing a bill to introduce plain packaging for all tobacco products has once again showcased the legislative upheaval facing the likes of British American Tobacco (LSE: BATS). The bill is set to be tabled in May and could lead to brand-less cartons by 2016, echoing similar moves in other territories such as Australia and Ireland.

Undoubtedly such clampdowns are exacerbating already-shaky social perceptions of smoking, with concerns over the health implications of the habit — combined with wider economic pressure on consumer wallets — having a devastating effect on revenues for ‘Big Tobacco.’

As a result of these pressures, British American Tobacco is expected to have seen earnings droop 5% in 2014, the first slippage in what was previously considered t be a bulletproof industry. However, the fruits of extensive restructuring — a renewed focus on growth brands like Lucky Strike and Rothmans (labels which carry terrific pricing power), and aggressive entry into the e-cigarette market — are expected to stop the rot from this year onwards.

Indeed, British American Tobacco is expected to see earnings rebound 5% in 2015 before advancing an additional 8% in 2016. Consequently, the business changes hands on a P/E multiple of 16.5 times for this year and 15.3 times for 2016, just above the watermark of 15 times which represents attractive bang for your buck.

BT Group

Telecoms giant BT Group (LSE: BT-A) (NYSE: BT.US) has long been a beacon for those seeking reliable earnings growth, and the company is not expected to begin disappointing investors any time soon. Heavy investment in its BT Sport channels and extensive fibre-laying programme across the country has seen revenues at its Consumer shoot higher in recent times, and strong momentum here is expected to persist.

BT has shown that it has both the financial resources and know-how to take on the might of Sky, exemplified by its decision to offer free access to its sports coverage to all of its broadband customers. And the firm’s likely acquisition of mobile operator EE could also prove an equally-canny stroke, boosting its footprint in the increasingly-lucrative multi-services sector and offering plenty of cross-selling opportunities.

As a result of these efforts, BT is expected to see earnings march 3% higher for the year concluding March 2015 before accelerating thereafter — growth of 5% and 8% is estimated for fiscal 2016 and 2017 correspondingly.

Accordingly, BT changes hands on a P/E multiple of just 13.7 times for 2015, and which shuffles to 13.4 times for next year and 12.4 times for 2017. Given that BT is well on the way to cementing its place at the top of the British ‘quad-play’ tree, I believe the business is a steal at these levels.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.