Looking more of a SCREAMINGBUY as each hour (or post) goes by
Half year announcement not that important now. I gather they were going say something about this new competive landscape in a more measured way at that announcements which might not have led to this ‘panic’ selling
If 82 cents was good buying then 64 cents should be the bee’s knees eh Winner Am I the only one tempted to buy a few? Yep probably, silly silly bear never learns!
so the new CEO started this week on Monday morning. you guys knew that right?
I've not really followed MPG at all and especially since Gaynors tear up last year Brian Gaynor: Metro Performance Glass fails to shine
but was just catching up a bit and noticed that there had been new appointments since the criticism made against the composition and compensation of the incumbents.
Perhaps this is simply the new guy clearing the deck and giving him the opportunity to invest cheaply in the company?
Because of their leading market position and high EBIT margins (that is for this industry globally) Metro was always exposed to somebody keen to disrupt the market .....and now it seems to have happened.
Greedy (price wise)for too long
Worse still the new competitor has some ‘influence’ over a large part of Metro’s customer base.
Nothing to gain but a lot to lose I reckon.
Last edited by winner69; 20-11-2018 at 12:20 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Yeap, as expected. Headed even lower I reckon. Investors were sold a pup when this floated. Balance sheet is heavily stacked with intangible assets that have been valued based on fundamental assumptions that have proved to be erroneous. I expect this to limp along for years under-performing the market. A brave CEO would slash and burn production capacity to get the market back into some sort of equilibrium when the new company starts up but I don't think they will.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Yeap, as expected. Headed even lower I reckon. Investors were sold a pup when this floated. Balance sheet is heavily stacked with intangible assets that have been valued based on fundamental assumptions that have proved to be erroneous. I expect this to limp along for years under-performing the market. A brave CEO would slash and burn production capacity to get the market back into some sort of equilibrium when the new company starts up but I don't think they will.
I'd like to see them cut the dividend for 2 years to get debt down towards $50m and be ready to compete in the changed market conditions. 4-5cps in divis is pointless if there solvency becomes an issue - just pay down the debt!
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