Tend to agree but it is a concern that in an environment where Fletchers, Vulcan, Steel & Tube all doing well that Metro continue to struggle...APL seem to be hurting them quite a bit as far as pricing goes.
If Fletchers don't buy them (maybe too small to bother but still 40-45% of NZ glass market) then Metro are going to have to improve earnings, or raise capital within the next 12 months or so...can't carry $53m debt and run near breakeven for too many quarters imho. If they could get $20m+ for AGG they should take it and focus on NZ.