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Hot Topic DEALMAKERS
Investment
3 mins to read

Metroglass delivers ‘unsatisfactory’ result, drops to $27.5m loss

The beleaguered glass supplier has implemented leadership change and cost-cuts but outlook remains ‘soft’.

A Metroglass truck speeds to its destination.

Will Mace Wed, 29 May 2024
Key points
  • Revenue: Down 9.2% to $293.3m.
  • Profit: Down 161% to a loss of $27.5m.
  • Key takeaway: Under new leadership, the company is seeking to turn around its New Zealand business while paying down debt.

 

NZX and ASX-listed Metro Performance Glass (Metroglass) said its New Zealand business needs an “immediate step-change in performance” as it expects stubbornly high inflation and interest rates to continue to weigh on the softened construction sector.

The company today delivered what the board

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Will Mace Wed, 29 May 2024
Contact the Writer: william@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
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Metroglass Metro Performance Glass capital raise
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6

Metroglass to raise at least $15m to reduce debt, CEO resigns
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5

Metroglass board response ‘surprising, disappointing’, Wells says
Key points
  • Revenue: Down 9.2% to $293.3m.
  • Profit: Down 161% to a loss of $27.5m.
  • Key takeaway: Under new leadership, the company is seeking to turn around its New Zealand business while paying down debt.

 

Company profile
Powered by:
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Investment
6

Metroglass to raise at least $15m to reduce debt, CEO resigns
Investment
3

Metroglass chair gone as board reduces headcount to cut costs
Investment

‘Revenge’ to blame for loss of Metroglass director?
Investment
1

Vulcan CEO resigns as Metroglass director
Investment
5

Metroglass board response ‘surprising, disappointing’, Wells says
Metroglass delivers ‘unsatisfactory’ result, drops to $27.5m loss
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