Metroglass blames covid for yet another dismal result

CEO Simon Mander said the company breached its debt-to-earnings ratio target. (Image: MetroGlass)

Mon, 30 May 2022

Metro Performance Glass is blaming frequent covid-19 disruptions, including international shipping disruptions and higher input costs, for reporting a $459,000 annual net loss.The loss for the year ended March compares with the $7.2 million net profit it reported for the previous year.Revenue through the New Zealand business fell 1% to $178m while Australian revenue rose 11% to 58.1m, and earnings before interest and tax (ebit) came in at $5.9m, just over a third of the previous year’s $17.2m.Ebit is also slightly below the company’...

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