MPG - Metro Glass

[mikeybycrikey]

Hmmm. I see a “please explain” notice in MPG’s future. Up 33% today on no news, unless I’ve missed something.

[Filthy]

low volume....

[sb9]

low volume....

Yeah, just over $100k in value, chump change....

[mikeybycrikey]

Yeah, just over $100k in value, chump change....

Today’s “low volume movement” seems to be the highest volume for almost 4 weeks. Since 13 May.

[winner69]

Announcement that announcement will be soon was good news ....this time didn't come with the rider that. '..we expect profit to be down'

[Leemsip]

Announcement that announcement will be soon was good news ....this time didn't come with the rider that. '..we expect profit to be down'

Back up to my buy in price! Who said value investing is dead (might have been balance)?

Should be a dead boring update which provides some certainty and we can get out of the 20 something cents per share territory.

Debt reduction hopefully on schedule ($15m was the target from memory) and moderately positive outlook with a huge list of caveats....

[winner69]

Pretty solid result in the circumstances

Outlook not that good in construction sector but they’ll keep busy

Metro never be this cheap to buy again if anybody wants to acquire them

Management might even get together and take them over?

http://nzx-prod-s7fsd7f98s.s3-websit...919/324770.pdf

[BlackPeter]

Pretty solid result in the circumstances

Outlook not that good in construction sector but they’ll keep busy

Metro never be this cheap to buy again if anybody wants to acquire them

Management might even get together and take them over?

http://nzx-prod-s7fsd7f98s.s3-websit...919/324770.pdf

While the implications of the COVID-19 pandemic on construction activity in New Zealand and Australia are uncertain,
Metroglass expects a significant decline in economic activity for at least the next 12 to 24 months. The base case
estimate for 9 month lagged NZ residential consents is for a marginal fall in FY21 and a c. 20% decline in FY22, before
a c. 5% recovery in FY23. A 20% decline in detached residential housing starts in our key Australian markets in FY21
(non-lagged) is also expected, followed by a 9% recovery in FY22.

Probably the most sobering sector assessment I have seen so far, but hey - they might well be right. What does surprise me is that they don't seem to expect any structural changes to the building sector. I am wondering what the increase of tiny houses, prefab houses and similar might do to their business? As well, what its the story with this new big competitor who must be coming online soon?

[mikeybycrikey]

I like how they say that dividends are cancelled but it's now because of the bank covenants, and therefore out of the company's control.

Otherwise nothing too unexpected but the future revenue projections are pretty startling.

[bottomfeeder]

Australia had to come right sooner or later. Dividends dont worry me, profits are what count.
Debt reduction equivalent to 8 cents per share. Under priced at 22 cents in my opinion.