Metroglass blames covid for yet another dismal result

Jenny Ruth
Mon, 30 May 2022

Metroglass blames covid for yet another dismal result
CEO Simon Mander said the company breached its debt-to-earnings ratio target. (Image: MetroGlass)
Jenny Ruth
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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