Wake me up when they actually grow revenue. Biggest building boom in history and they consistently sell less and less glass each year. There is a reason why the dividend yield is so attractive.
Quite fancy statement, but is it true?
Their revenue basically doubled from 2012 ($130m) to 2018 ($268m) - and plateaued since then (well, yes, last year was slightly lower at $232m ... surprising, what a Covid lockdown can do to the industry! Forecasts see revenue creeping back to $265m in 2024.
So, yes ... they didn't grow recently, but it's not true that they sell less glass - it probably is even still more, given that the margins did shrink with increased competition.
BTW - markets are optimistic and SP is clearly in an uptrend - SP above all MA's I care about ... ;
Their revenue basically doubled from 2012 ($130m) to 2018 ($268m) - and plateaued since then (well, yes, last year was slightly lower at $232m ... surprising, what a Covid lockdown can do to the industry! Forecasts see revenue creeping back to $265m in 2024.
So, yes ... they didn't grow recently, but it's not true that they sell less glass - it probably is even still more, given that the margins did shrink with increased competition.
BTW - markets are optimistic and SP is clearly in an uptrend - SP above all MA's I care about ... ;
You can slice and dice it however you like but the reality is over the last 5 years revenue has gone no where while margins have decreased. This is whilst the market has grown.
So they have lost market share and what glass they do sell they earn less on the bottom line.
The funny thing is you two were warning me and others off MPG about 8 months ago. Glad I took your advice and sold out on nearly a 3 bagger. Thanks and GLHs
You can slice and dice it however you like but the reality is over the last 5 years revenue has gone no where while margins have decreased. This is whilst the market has grown.
So they have lost market share and what glass they do sell they earn less on the bottom line.
The funny thing is you two were warning me and others off MPG about 8 months ago. Glad I took your advice and sold out on nearly a 3 bagger. Thanks and GLHs
Fancy destroying a good story like that - Rawz .. TJ wont be happy when he comes back to read here ..
You can slice and dice it however you like but the reality is over the last few years revenue has gone no where while margins have decreased. This is whilst the market has grown.
So they have lost market share and what glass they do sell they earn less on the bottom line.
The funny thing is you two were warning me and others off MPG about 8 months ago. Glad I took your advice and sold out on nearly a 3 bagger. Thanks and GLHs
You are so right rawz - Metro have gone backwards last year in a booming market I apologise
I've been slack and hadn't updated my analysis for a few years (probably believing their bull ****)
Updated it now - I am shocked
Metro sales v NZ Building activity ex Stats NZ chart below
If Metro had continued to follow the activity line upwards their sales would be $120m more than they are now .... WOW ..... and the share price probably still 2 bucks.
Just as well Metro is a compelling yield proposition at current price .... though one needs to worry a bit about when they mention having to do another round of capex spend
Last edited by winner69; 10-08-2021 at 09:05 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
This company has systemic major issues. We built our house and had over $100 K of double glazing installed. 50 percent had to be removed and replaced due to scratches, imperfections and some of these were on the inside of the glass. 3 large sliders had to be replaced three times. And this is just one house. The quality control is appalling and I can’t see this company surviving.
Originally Posted by Rawz
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