Metro Performance Glass Ltd ( (AU:MPP) ) has issued an update.
Metro Performance Glass Ltd has reported a challenging FY25, with a 16% revenue decline in New Zealand, primarily affecting the North Island, while the South Island showed some growth. Despite market volatility, the company has made significant improvements in delivery performance and operating efficiency, removing approximately $3 million in annualized operating costs. In Australia, the company faced difficulties due to market softness and code change delays in Victoria, although New South Wales experienced a 26% revenue growth due to code changes. The unexpected closure of Oceania Glass has led Metro to adopt an import model for its glass in Australia, increasing short-term costs but potentially reducing glass costs over time. Looking ahead, Metro expects an 8% revenue increase in FY26, with continued cost reductions and a focus on returning to profitability amid ongoing market challenges.
More about Metro Performance Glass Ltd
Metro Performance Glass Ltd operates in the glass industry, focusing on providing glass products and services primarily in New Zealand and Australia. The company is known for its glass solutions, including double glazing, and has a market focus on both residential and commercial construction sectors.
YTD Price Performance: 6.67%
Average Trading Volume: 10,424
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$10.3M
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