MPG - Metro Glass

[mfd]

Is MPG's performance still correlated with consents? Looks like good news keeps on coming if so. Maybe they'll earn a few extra dollars to get the debt mountain down to size.

https://www.interest.co.nz/property/...lling-consents

[bottomfeeder]

MPG will be taken over by someone and it will be sooner than later. The SP is down at the moment due to ex staff reducing their holdings, but it will recover. I would think that a building industry participant is just sitting back and buying a few here and there and once they have to declare then it will reach 50 cents. MPG is a decent group. OK it was hashed together using lots of goodwill and to make a profit for the promoters. But why would you bother to set up a new organisation when one is sitting there at quite a good entry point.

[steveb]

MPG will be taken over by someone and it will be sooner than later. The SP is down at the moment due to ex staff reducing their holdings, but it will recover. I would think that a building industry participant is just sitting back and buying a few here and there and once they have to declare then it will reach 50 cents. MPG is a decent group. OK it was hashed together using lots of goodwill and to make a profit for the promoters. But why would you bother to set up a new organisation when one is sitting there at quite a good entry point.

I agree ,however I think the overtures will come from china,they would close the processing plants except for one.Most production would move to china.The retail and distribution side would be pure gold to the chinese.
There is not enough liquidity to slowly build a position,so a decent offer is on the cards,after all you wouldn't want someone like Fletchers moving in with a counter offer

[Beagle]

Losses from their Australia operation need to cauterized before this is likely to be a takeover target, in my opinion.

[winner69]

Half year as expected ...solid NZ performance, pity about Australia

A writedown in Australia to come

http://nzx-prod-s7fsd7f98s.s3-websit...825/312589.pdf

[winner69]

Some positive stuff but ‘negative’ statements out number them

http://nzx-prod-s7fsd7f98s.s3-websit...825/312604.pdf

[Beagle]

Objectively its difficult to come to any other conclusion than that this is a business that's in systemic decline.
Some very creative thinking behind the $146m intangible assets assessment which makes up the vast bulk of shareholders funds of $161m.
All their previous statements of growth of this and investment in streamlining that and improving operational efficiency of some such other thing have come to nothing.
Very good stock to avoid in my opinion.
Expect ongoing decline in profitability and increasing write-offs of intangible assets as reality collides with the fictional story directors continue to portray.
Good that they're keeping their financiers appeased and the good news ends there.

[winner69]

Well, the market didn’t like that announcement

Maybe just too many ‘negative’ phrases in the narrative

Share price back into the 20s soon by the look of it

[couta1]

Well, the market didn’t like that announcement

Maybe just too many ‘negative’ phrases in the narrative

Share price back into the 20s soon by the look of it

Woof Woof.

[Beagle]

No amount of barking will rid this mutt of all its fleas. Worse, it would appear that their Australia operation has no real chance of being profitable so a surgical approach by management would appear to be in order but they're just applying some flea powder here and there and hoping for the best, (basically just rearranging the deck chairs on the Australian "Titanic"). In total denial that their Australian operation is a complete failure ?, you betcha !!

Who's really calling the shots here ? The banks ? Managed winddown ?