Global Health Limited

ASX:GLH

Global Health Limited

ASX:GLH
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$0.140 (+5.8%)
Last close price
#117
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6
Held by
22
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Reports (5) My Report Forum Investors
Forum Topics GLH GLH Financials

Pinned straw:
edgescape
Added 4 months ago

Quarterly is out with news of positive operating cashflow.

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Although the figures look amazing, it has taken more than a few years for the MD to get to this point as seen below

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From market index.

Guessing why the market did not really react to the news.

Either way, I guess it is worth digging in and keeping an open mind - if you can get past the question to the MD of what has been achieved in the last decade??

Plus GLH does have a tiny market cap right now.
JPPicard
Added 4 months ago

I think the market stopped giving a shit about these guys a long time ago. Years of lacklustre performance will do this to you without doubt.

But I think you're right that something might be happening here in the form of a turnaround; there's a lot to like about to operational performance this year. Cash receipts are up nearly 28% YoY and this last 6 months are FCF cashflow positive.

I personally like what I'm seeing here. I took a small holding after these results, I thought I would have to pay a premium but wasn't the case which is good.

14
Slideup
Added 4 months ago

Yeah, they are definitely looking more interesting than they were 12 months ago when they were consistently burning cash. The change of management back to the founder and strategy reset has really stopped the cash bleed. I too thought this would have jumped a bit on the quarter results.

Probably really needs a few contract wins now to start to move it back to the growth area rather than the cost cutting to greatness area its in now. The forward looking statement in the quarterly wasn't brimming with confidence of easy growth though.

9
edgescape
Added 4 months ago

Appears marketindex got the management timeline incorrect.

When I went through the old updates there was a different name for the MD/CEO.

Maybe need to see another quarter

4
Noddy74
Added 4 months ago

As an owner of GLH I'd just urge a word of caution about extrapolating the cashflow out in the short term. Its invoicing is such that it presents as a seasonally cyclical business and Q1 is traditionally the lowest cash receipt quarter, by a considerable margin. I expect it to revert to cash burn mode in Q1 and would be happy if they managed to keep that to $500-800k. To some extent that may account for the muted market response to the recent 4C.

Overall though, I'm reasonably happy with how the business is progressing. While this isn't the highest quality business I've ever come across, I think you're being more than compensated for that in the valuation. It may be taking a little longer than hoped to achieve the outcomes management has promised, but progress is being made and you're starting to see that through the financials.

One thing I like about them is the quarterly commentary they give is meaningful. It's not just a ChatGPT rehashing of the previous quarter's commentary but is a warts and all account of issues and observations impacting the business over the previous three months. Not there yet but heading in the right direction.

15