Brief: Metro Performance Glass Says COVID‐19 Impacts H1 Performance, Delays Return Of Dividends

Metro Performance Glass

20/09/2021 21:47

Sept 21 (Reuters) - Metro Performance Glass Ltd  MPG.NZ :
    * COVID‐19 IMPACTS FIRST HALF PERFORMANCE
    * ELECTED TO POSTPONE RESUMPTION OF DIVIDENDS
    * FOURTH PLANT BASED IN AUCKLAND IS CURRENTLY PREPARING TO
SAFELY
RECOMMENCE OPERATIONS FROM WEDNESDAY
    * REMAINS COMMITTED TO DELIVERING A CONSERVATIVE AND
SUSTAINABLE
DIVIDEND AS SOON AS POSSIBLE
    * GROUP H1 EBIT IS CURRENTLY EXPECTED TO BE CIRCA. NZ$10M
BELOW
LAST YEAR
    * NZ BUSINESS FACED INPUT COST PRESSURE, AND A LOWER NZ
GOVERNMENT
WAGE SUBSIDY COMPARED TO LAST YEAR
    * METROGLASS' NET DEBT IS EXPECTED TO END H1 AT A SIMILAR
LEVEL TO
SAME PERIOD LAST YEAR
    * NZ LOCKDOWNS HAVE RESULTED IN CONSIDERABLE DISRUPTION &
PRODUCT
SHORTAGES ACROSS DOMESTIC CONSTRUCTION SUPPLY CHAIN
    * CONSTRUCTION PIPELINES IN NZ AND AUSTRALIA CONTINUE TO BE
STRONG
    * HAS INCREASED ITS LEVEL OF SAFETY STOCK OF GLASS TO
COMFORTABLE
LEVEL

Source text https://www.i-search.nzx.com/blobs/MPG000000/517810/MPG000000-355097.pdf
Further company coverage:  MPG.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))