MPG - Metro Glass

[Beagle]

Happy to carry the baton winner, believe you have referred to me with an extra head before.

Beagle, Retrofit and Australia are the two growth sectors for MPG. Consents with a one year lag are also at record highs keeping revenue ticking along for quite some time. Sales growth isn't the issue, they are at record highs. Margin is due to poor S&OP planning. If they fix margin, earnings will grow.

How will they fix margin - reviewing processes and capex investment.

Ol Nigel has a lot to gain if he gets GM humming again.

Cheap Chinese glass will be the issue going forward I think. I really don't buy the retro double glaze story. These days you've got heat pumps with a coefficient of performance as good as 6:1 at very modest cost. I don't think the double glazing thing gets anywhere near the bang for your buck that a good heat pump and good thermal curtains do. Maybe you have a point with Australia but why did they bother trying to expand there when they quite obviously haven't got their own house here in very good order ?