MPG - Metro Glass

[janner]

Yes I was.
Lucky to get out in one piece.Disaster.

ps.As was another company he worked for Wellington Drive.Missed FBU that he also worked for.

Yes.. We both know about WDT. Maybe he is too experienced a yachtie. Enjoys sailing to close to the wind

[winner69]

I note he started at Tru-Test just last September

Career path looks rather itinerant of late ...8 months here and then 1 year there and now just over a year at Tru-test assuming he working through to end of year.

[winner69]

Things still not booming down at the glass factory, particularly the Aussie one.

EBIT likely to be lower than last year’s normalised $31m

We note that the Chair’s speech and slide number 10 of the presentation include an update on year to date trading and potential FY19 financial results. These note that Group EBIT is currently expected to be at the lower end of previously provided target range of $30 - $33 million, as a result of weak year to date results in Australia following a period of significant change.

[percy]

Things still not booming down at the glass factory, particularly the Aussie one.

EBIT likely to be lower than last year’s normalised $31m

We note that the Chair’s speech and slide number 10 of the presentation include an update on year to date trading and potential FY19 financial results. These note that Group EBIT is currently expected to be at the lower end of previously provided target range of $30 - $33 million, as a result of weak year to date results in Australia following a period of significant change.

No surprises here.!
Reputation for being a serial under performer remains intact.

[winner69]

No surprises here.!
Reputation for being a serial under performer remains intact.

Might end up like Skellerup ......but odds on being like Methven eh

[Arbroath]

MPG is a hold for mine...9x earnings which despite the underperforming v forecasts look quite solid in the $17-$21m npat range the past few years. I note NZ is doing alright and better than last year but Oz is the drag. Patience is required as FY20 the likely improvement year IF the new CEO proves his worth and stops the Oz bleeding. In the meantime keep collecting the 7cps dividend which is over 11% gross yield.

My gut says we see 70-75c again though this year, especially if they deliver a weak interim in Nov.

[percy]

Might end up like Skellerup ......but odds on being like Methven eh

I would think they need a chairman and board with competence, and skin in the game,to follow Skellerup's turn around,other wise they will follow in Methven's footsteps.

ps.Is the same PR firm writing SKO,MPG,and other companies' recent announcements and presentations.?
All seem to have the same jargon to me.

[bull....]

as expected , well down. Going on past experience of over promising and under delivering im expecting more pain going forward

hardly surprising

[nomis]

Hardly surprising market reaction - overt promise under deliver. At least they are consistent with that. However, its starting to look cheap again....

[Beagle]

MPG is a hold for mine...9x earnings which despite the underperforming v forecasts look quite solid in the $17-$21m npat range the past few years. I note NZ is doing alright and better than last year but Oz is the drag. Patience is required as FY20 the likely improvement year IF the new CEO proves his worth and stops the Oz bleeding. In the meantime keep collecting the 7cps dividend which is over 11% gross yield.

My gut says we see 70-75c again though this year, especially if they deliver a weak interim in Nov.

New CEO will find some of the skeletons in the closet so shareholders can look forward to extraordinary write-downs and maybe more restructuring.
Hiring outside consultants a while back to tell them how to run their business was a free warning sign for shareholders that management have lost their way.
New guy doesn't have the right credentials in my opinion for me to take a punt is this cyclical high risk building sector. Has all the hallmarks of a value and yield trap in my opinion.