Globo released interim (6 months) results on 23rd September. Net profit had increased from 39% to 45%; this seems to be an up and coming company. Sales are from mobile apps. They have a robust North American distribution with head offices in New York and London.

They are reporting 6 million users monthly with a 52% increase in sales. They have some 98million in assets and 21million in cash. Liabilities are also about 21million. They are debt free. The CEO and founder of Globo recently bought 150,000 shares to increase his share ownership to 18%. Usually a good sign. A possible consideration is that they did mention a patent pending in their last end-of-year report, but no mention of this found in their recent interim report.

Tax paid was only 4%, where mid 20% expected. Globo has made provision for more tax in their interim report. A young company for a SlowTrader, coming up to 8 years, but well placed for continued growth, mainly through their emerging markets and seemingly strengthening the western position. Up until now, their growth has been consistent.

If this continues Globo’s share price, over the next several years, will increase nicely. Last month, however,  Globo dropped from a high of about 85p to a present price of 67p. A good time to take advantage?