MPG - Metro Glass

[Arbroath]

I wish they'd sell/donate AGG to someone....the NZ business Ebit is c. $29m which would result in npat of $18-19m.

That AGG writedown could be $20m easily instead of $7-10m as it will lose c. $4m at the ebit line this year. Without the AGG noose then MPG might get back to $1.00 one day which is 10x PE for the NZ npat (not taking into account the entry of APL in 2020-21)

[Beagle]

NTA is 0.54 cents per share, that's not 54 cents per share, just over half a cent per share.
This company is riddled with intangible assets of extremely questionable value. Australian operation clearly has no value in my opinion and all the goodwill on that acquisition should be written off completely.
Chairman and CEO responsible for that dreaded acquisition are gone. Board needs to clean this mess up and cut the umbilical chord off.

[Balance]

NTA is 0.54 cents per share, that's not 54 cents per share, just over half a cent per share.
This company is riddled with intangible assets of extremely questionable value. Australian operation clearly has no value in my opinion and all the goodwill on that acquisition should be written off completely.
Chairman and CEO responsible for that dreaded acquisition are gone. Board needs to clean this mess up and cut the umbilical chord off.

Agreed but that will require a capital raising to pay off the acquisition debt and finance the redundancies etc.

Not sure that existing shareholders would be happy to put in more money!

[Beagle]

Agreed but that will require a capital raising to pay off the acquisition debt and finance the redundancies etc.

Not sure that existing shareholders would be happy to put in more money!

Reminds me of another company with a balance sheet riddled with intangible assets at absurd level's...hope the share price doesn't "evolve" the same way with your one mate.

[winner69]

Reminds me of another company with a balance sheet riddled with intangible assets at absurd level's...hope the share price doesn't "evolve" the same way with your one mate.

....for a while I thought you were talking about that company thats trying to turner around the share price collapse

[Beagle]

....for a while I thought you were ralking about that company thats trying to turner around the share price collapse

LOL no thankfully that one is evolving in a slightly different manner. Actually speaking of EVO, now down to just 20.5 cents just half a cent away from its all time low !

[bull....]

Balance sheet concerns loom after Metroglass downgrade

http://www.scoop.co.nz/stories/BU190...-downgrade.htm

its worth nothing if you take out intangibles

[Lola]

Balance sheet concerns loom after Metroglass downgrade


http://www.scoop.co.nz/stories/BU190...-downgrade.htm

its worth nothing if you take out intangibles

Scoops story could be prescient. Crescent (Metros father "fixer") has bought Viridian (Opposition to Metro in the glass biz). Doubtless Forbar will be salivating at the thought of another IPO one day.

[Balance]

Bain are just waiting for the inevitable collapse.

Just lol if you think they're going to buy this company for a premium and rescue retail holders.

Retesting of the all time lows looks likely in the next few weeks.

Not a problem.

Catching a few reef fishes.

[sb9]

Balance sheet concerns loom after Metroglass downgrade


http://www.scoop.co.nz/stories/BU190...-downgrade.htm

its worth nothing if you take out intangibles

A very grim read indeed...feel sorry for holders.