NZ's Metro Performance Glass falls on weak earnings outlook

Metro Performance Glass

21/09/2021 01:20

** Shares of glass supplier Metro Performance Glass Ltd
 MPG.NZ  fall as much as 10.5% to NZ$0.385 – their biggest
intraday percentage fall since Nov 23, 2020
    ** Co says due to NZ's COVID‐19 lockdown and restrictions in
Australia, group H1 FY22 EBIT is expected to be about NZ$10 mln
($7.01 mln) compared with NZ$12.8 mln for H1 FY21  urn:newsml:reuters.com:*:nFWN2QM0OH
    ** Board has elected to postpone the resumption of
dividends, which were anticipated to be declared alongside the
co's interim results in November
    ** Stock hits its lowest level since May 21
    ** MPG set to post the third consecutive session of losses
    ** About 377,000 shares change hands, compared with the
30-day average volume of about 123,000 shares
    ** MPG down 4.9% this year, as of last close
    ($1 = 1.4269 New Zealand dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))