Geong Share Discussion Threads

[augustusgloop] 23/12/2014 17:49

In the local currency (yuan) there was a 11% increase in trade receivables year on year.

I thought that these were supposed to be coming down!

Take into account that about half their business is now supposed to be almost cash - and that turnover has fallen from what it was when a lot of these debts were run up - there is only one conclusion!

The old debts are simply not being paid.

SMOKE AND MIRRORS.

[corrientes] 23/12/2014 16:31

Surely to goodness, after all this time, somebody somewhere must have proved that the cash either exists or doesn't exist. Who are the auditors, or is this just another Langbar ?

If receivables are not really collectible, then I'd expect to see large notifiable bad debts in the future. You don't get bad debts with accrued income, I would have thought ; merely a reversal of sales. What would be the point in all that nonsense ?

[rivaldo] 23/12/2014 13:49

Well, there's a positive surprise for once from GNG - the interims are out early...



A mixed bag, but overall the feeling of (slow) progress persists.

Improved H1 performance, with only a small loss, and H2 looks good again given the order book and high recurring income. Margins again down as usual for H1, but much lower expenses saved the day, and SaaS sales are promising for H2.

Borrowings are up in the much seasonally weaker H1, so net cash is now £1m, which should increase nicely in H2.

Accrued income is up (typical), but interestingly trade debtors are MUCH increased to £5.8m - almost doubled year on year - which suggests there could finally be quite a wodge of cash receipts coming GNG's way.

Certainly better than I feared for H1 then, and looking interesting for H2.

The m/cap remains just £1.8m.

[rivaldo] 23/12/2014 08:08

News of the CULS being extended to 31st March.

The mildly reassuring aspect is that it's only extended for 3 months this time, to the year end and after the big debtor payment season is finished, so perhaps GNG envisage that this time will definitely see it repaid. Obviously it would have been better to see it dealt with already, but only 3 months (or less) to wait now anyway:

[rivaldo] 22/12/2014 12:27

The web site is back up now:



I note that the interims are scheduled on the web site for mid-January. Perhaps they'll actually keep to this deadline :o))

[davydoo] 18/12/2014 17:43

Eh? So they pull down their whole site for that?

Surely site more important for clients and prospects than investors. Isn't hard to delay posting a news item to investors page

[meijiman] 18/12/2014 16:31

and how come you are privvy to this information???

[sir rational] 18/12/2014 16:16

You're right about the website. I guess they are sticking up the results so have made it unavailable until the RNS goes out over here.

[sir rational] 18/12/2014 16:12

There's good news about to hit the wires...

[davydoo] 18/12/2014 10:17

Trying to do some research but Geong website isnt working for me. Anyone else able to access it?

Hard to believe they are building successful internet banking portals if they cant keep their own website up

[raysor] 18/12/2014 08:49

What buy was that?

[corrientes] 17/12/2014 17:10

Last chance saloon ?

[sir rational] 17/12/2014 16:27

Last chance to buy a couple at this level. Did you see that buy?

[sir rational] 02/12/2014 22:15

Out tomorrow or Thursday, apparently

[marth] 30/11/2014 14:11

Yes - mounting excitement!

"The Company will provide a detailed interim trading update in mid November..."

- presumably just 11.5 months to go.

[sir rational] 28/11/2014 21:13

onto A WINNER HERE ;-)

[sir rational] 26/11/2014 19:40

Gloopy, what are you rabbiting on about?

[augustusgloop] 19/11/2014 16:32

Easy to explain why this rose today.

All the sad no-hopers like sefton doubling up with their WONGA refunds.