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Originally Posted by Balance
Where's the growth?
A company in trouble, bought cheap by private equity, financially engineered now to sell into a strong market?
Indicative pricing says earnings $19m (current or next year I don't know but that's what the PE ratio mentioned gives)
2013 profit was $8m on $140m odd sales
So $8m to $19m is real growth eh Balance ....there's the growth
And all those glass towers in Christchurch to come
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Might have been more interested a couple of years ago in Metroglass earlier in the macro economic cycle.
There is some growth on the horizon but they don’t have a particularly high proportional exposure to the Christchurch market, in similar fashion to FBU and STU.
Not for me at $1.70, there are better propositions in the market right now.
http://www.scoop.co.nz/stories/BU140...70-sources.htm
Disc: not investing
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Member
Originally Posted by winner69
Indicative pricing says earnings $19m (current or next year I don't know but that's what the PE ratio mentioned gives)
2013 profit was $8m on $140m odd sales
So $8m to $19m is real growth eh Balance ....there's the growth
And all those glass towers in Christchurch to come
At least it is an easy to understand business. As double glazing is now and standard practice in new building an most almost replacement glass for door or windows have to be strength glass isn't it?
So more or less it is depending on property cycle and new building consents.
I am wondering who else in NZ is producing glass panels and what is the chance that these glass panels could come in from over sea. I know that some kitchen panels are from Germany.
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Originally Posted by dino4abcoach
who are their competition and will they be up against imported glass from china that is now duty free under our FTA
Metro import it from China themselves...
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El Toro~
I see them having strong growth during FY 15, 16 and 17 but flattening off and possibly even negative growth post Chch rebuild.
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Now, there's a surprise. MetroGlass issue oversubscribed!
http://www.stuff.co.nz/business/indu...day:dailybrief
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Originally Posted by macduffy
I understand the Aussies were really interested / got sucked in big time
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you cant beat a continuation of the 11% pa revenue growth through to September 2015
And EBITDA to grown at 45% pa from FY12 to FY14 and will grow at 22% pa through to FY15
Pretty good eh
Sept NPAT forecast 12 months Sept 15 is $21.2m ..... so a PE of 15 future earnings
That based on NPAT -- not the NPATA that they seem to use in the prospectus
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Mike doesn't get it one little bit. Probably wont be putting any Metro in his portfolio. He going to miss out then
http://www.chrislee.co.nz/market-news
Quote
Drafty? – Metroglass Tech (MGT) seems to be in a real hurry to float their shares on the NZX!
It’s almost like someone called in to report a broken window, its cold and the draft is cooling the home rapidly and MGT is on its way and hopes to have the situation resolved by sunset.
The media has reported that the share price will be set at $1.70 (a semantically important 5 cents above the $1.65 minimum) after discussions behind closed doors with institutional investors.
Behind closed doors… recall my comments from last week about the desirable alternative of transparent, all inclusive, public book builds using the easily developed, but steadfastly blocked, online service portals.
The vendor of MGT is…. one moment.. ahh yes, it is another private equity fund: Crescent Capital.
Private Equity ~ capital market development supporters?, leave value on the table?, transparency?
I have a view that MGT owners would be much better at selling opaque windows for a bathroom than clear windows for a sunroom.
Could it be that the marketing pitch for the current share price will include the high volume of building consents in Canterbury and Auckland plus the push to see councils accelerate further development?
What’s the rush?
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Anybody having a go with Metro this week?
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