MPG - Metro Glass

[Muse]

OK new director Jenn Bestwick has good governance experience,however does not get my juices following and wanting to buy any shares.
Had Peter Wells joined the board I would have bought some MPG shares,as I think MPG really could benefit with his business acumen.
A missed "window of opportunity".

It would have been a positive thats for sure. I respect the hell out of Peter but absent him taking an executive role I’m not sure how much even he could achieve there - might be structural issues in the business & industry.

And with its net debt ratios I’m not sure he’d want to take on the director liability - I know I wouldnt.

[percy]

It would have been a positive thats for sure. I respect the hell out of Peter but absent him taking an executive role I’m not sure how much even he could achieve there - might be structural issues in the business & industry.

And with its net debt ratios I’m not sure he’d want to take on the director liability - I know I wouldnt.

Well he has 16,988,831 MPG shares. 9.16% of the company.Most probably cost him $5mil.
.

[Shareguy]

Just heard from someone that Metro have just lost their largest South Island customer. May not be a major issue or warrant disclosure.

Disc not a holder or future holder.

[nztx]

How's the Debt to Intangibles ratio looking now ? any improvement ?

Could be easily fixed - Write off the bulk of the Intangibles, share consolidation
1 for 20 and a large rights issue .. Debt offloaded (on eager stakeholders), balance sheet
fixed and past sins wiped off the books

Worked for STU a few years ago to pull them out of a large hole ..

[winner69]

Ominous headline

Construction 'probably entering bust cycle' with 92 companies liquidated this year


https://www.stuff.co.nz/business/128...es-liquidated-
this-year

Next problem for Metro …..big pile of bad debts?

[Sideshow Bob]

Metroglass provides FY22 results (unaudited) - NZX, New Zealand’s Exchange

Metroglass provides FY22 results (unaudited) as external disruptions impact profitability
• The Group managed frequent Covid-19 disruptions and other external pressures well, however it materially impacted profitability for the year
• New Zealand revenue declined 1% year on year supported by robust activity before and after the lockdown period
• AGG delivered revenue growth of 11% as market activity remained strong despite disruptions
• Group EBIT before significant items down 66% to $5.9 million. Significant increases to input costs and the NZ lockdown period materially impacted profitability.
• Statutory net profit (loss) after tax of $(0.5) million down from $8.1 million in FY21

[trader_jackson]

$51m marketcap is alot for a company going backwards, especially given even during the big boom times that has been the past couple years Metroglass couldn't capitalise... so how are things going to work out when things go bust...?

[Balance]

Boom times and MPG lost money!

And increased debt!

Heading to the scrap yard?

[Sideshow Bob]

Boom times and MPG lost money!

And increased debt!

Heading to the scrap yard?

Had all the tail winds, now starting to face head winds.

Yeah, nah, nah.....

[winner69]

Sales didn't grow but biggest issue is GM falling from 48% to $43% .... shocking .... early $8m impact on pcp

Selling prices didn't keep up with 'rapid increases in material costs'