Quote Originally Posted by Rawz View Post
Capital Management

Metroglass has begun to reduce working capital commitments in line with the improving reliability of the international supply chain and this is expected to materially reduce its investment in working capital through the first half of FY24. Metroglass’ net debt to EBITDA ratio decreased to 3.3x at 31 March 2023 from 3.8x in the prior period, primarily as a result of the increase in EBITDA. The net debt to EBITDA ratio is expected to continue to improve through the first half of FY24 through the improving performance of the New Zealand business and the unwinding of working capital invested in inventory. During the year, Metroglass concluded an extension of its current syndicated banking facilities out to the end of October 2024 (previously October 2023).
I see, thanks Rawz.

Yep let's wait and see. I am surprised that the banks agreed to it or they have given an ultimatum they need to sort it out within the next 12 odd months.