MPG - Metro Glass

[Beagle]

This thing is without doubt one of the mangiest things to have been listed on the NZX in recent years...sadly one of several.
Where is the pay-off from all their recent capex investment in modern processing machinery we were assured was going to boost efficiency and productivity ?
MFB also headed down to where this mutt is. Mutts are pack animals.
What the heck are all these highly paid executives doing to fix this ongoing fiasco ? How is it possible to have a fairly dominant market position and a robust sector dynamic and yet they are executing so poorly ? Posted 24 May 2021

My only observation on this one for quite some time. I see nothing has changed...so I will go back to sleep lol
I think its crystal clear management are completely incompetent. Rip out the share page from the N.Z. herald, affix to a wall, stand back and throw a dart at it. 98% chance you'd pick a better prospect than this, unless you hit AIR

[winner69]

Metro Glass always put charts and commentary on residential and non-residential building activity (consents etc) so obviously it means a lot to them and as such is a measure of how will they should be doing (benchmark)

For the June/Sept quarters this year building activity in NZ was 22% higher than last year. Metro Glass NZ sales were DOWN 1% in same period

The decline in Metro's market presence continues .... competitors (esp the new one) must be doing OK

A trend that started when Metro listed ..... fascinating

[Balance]

Metro Glass always put charts and commentary on residential and non-residential building activity (consents etc) so obviously it means a lot to them and as such is a measure of how will they should be doing (benchmark)

For the June/Sept quarters this year building activity in NZ was 22% higher than last year. Metro Glass NZ sales were DOWN 1% in same period

The decline in Metro's market presence continues .... competitors (esp the new one) must be doing OK

A trend that started when Metro listed ..... fascinating

Excellent chart, W69 - tells the MGP story perfectly.

[sb9]

Metro Glass always put charts and commentary on residential and non-residential building activity (consents etc) so obviously it means a lot to them and as such is a measure of how will they should be doing (benchmark)

For the June/Sept quarters this year building activity in NZ was 22% higher than last year. Metro Glass NZ sales were DOWN 1% in same period

The decline in Metro's market presence continues .... competitors (esp the new one) must be doing OK

A trend that started when Metro listed ..... fascinating

Wonder how that graph would look if STU is overlaid with building activity....may be post it on STU thread if you can.

[Greekwatchdog]

Let us not forget they did lose a big chunk when APL started manufacturing there own Glass. Metros biggest problem is themselves and arrogance in the way they communicate with customers. Shabby at best!

[mikeybycrikey]

Metro Glass always put charts and commentary on residential and non-residential building activity (consents etc) so obviously it means a lot to them and as such is a measure of how will they should be doing (benchmark)

For the June/Sept quarters this year building activity in NZ was 22% higher than last year. Metro Glass NZ sales were DOWN 1% in same period

Ouch! That’s brutal. I’ve seen those charts that they are promoting but they are usually a tight timeframe and looking towards this future. This longer term view is awful, with no end in sight for the decline.

[BlackPeter]

Metro Glass always put charts and commentary on residential and non-residential building activity (consents etc) so obviously it means a lot to them and as such is a measure of how will they should be doing (benchmark)

For the June/Sept quarters this year building activity in NZ was 22% higher than last year. Metro Glass NZ sales were DOWN 1% in same period

The decline in Metro's market presence continues .... competitors (esp the new one) must be doing OK

A trend that started when Metro listed ..... fascinating

Great chart .... but hey - I think we see exactly how the competition broke into their market share. Question is now - was this a one off step function or will the bleeding continue?

[winner69]

Wonder how that graph would look if STU is overlaid with building activity....may be post it on STU thread if you can.

Have that STU chart but I haven't and won't post it on the STU thread .....because it's about as sad as the MPG one ....and I don't want to remind STU people how bad STU have been over the years and it's not good to show that sort of stuff when ramping a stock

Like STU's sales in F22 might get back to just over what they were in 2016 l ....in that time building activity will be up 55%/66%

But currently things looking a lot brighter for STU than MPG eh mate

[winner69]

Ouch! That’s brutal. I’ve seen those charts that they are promoting but they are usually a tight timeframe and looking towards this future. This longer term view is awful, with no end in sight for the decline.

Those consent numbers are one of the key inputs into their planning and budgeting stuff ....... might give them good feel for how much glazing needs to be done ...... betcha what they got wrong is putting a market share number to it ...... probably unrealistic optimistic hopeful number

[BlackPeter]

Those consent numbers are one of the key inputs into their planning and budgeting stuff ....... might give them good feel for how much glazing needs to be done ...... betcha what they got wrong is putting a market share number to it ...... probably unrealistic optimistic hopeful number

Wasn't one of MPG's big mistakes in the past to prioritise market share over margin? I remember them sometimes taking contracts even for a loss, just to keep market share, which is not smart. Also had an impact on quality, and not always a positive one ... it sounds they often didn't had the time to do it right, but always to do it again.

I recon shareholders might be quite happy with a lower market share if it means producing less stuff in better quality for a higher margin ... but hey, time will tell.