UK 20:27 Wednesday, 23 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On reviewing the previous results from “international provider of enterprise mobility management, mobile solutions and software as a service”, Globo plc (GBO) HERE the shares were at 52.5p. They declined to below 30p last month, though, following subsequent announcements of a proposed acquisition, interim results and increased shareholdings by Forum Venture Capital GmbH and Forum European Smallcaps GmbH, have recovered to a current circa 40p. Do previously identified financial concerns remain? …
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
Stephen Richardson
Eu Mn 12.13 6.14 12.14 6.15
Net Cash 43 46 40 47
Equity Less Intangibles & G’will 105 107 123 141
Trade Receivables 29 33 51 55
Other Assets 17 23 21 36
Trade + Other Recbles +Other Assets (A) 48 59 76 95
6 mo Revenues (B) 40 47 60 72
Months Total Receivables (A/B) 7.3 7.6 7.6 7.9
Other assets are reported in the 2014 accounts as Accrued income and Amounts recoverable on long term contracts. Note the large increase between December 13 and June 14 followed by contraction in the second half. Now why would that be? Could it be that companies tend to crowd new contracts at year end which are not recorded as trade receivables until they become WIP? That is until Globo starts to deliver on the order? Didn’t the company also make an acquisition last June affecting the cash position in the December 15 half? We shall see in due course but I would certainly tend to buy not sell a company trading on x1.5 tangible book with a pretty impressive record and a clear strategy. I thought the critics a year ago were saying the company was cashflow negative. It isn’t any more.