Metro Glass shares drop 4.8% on outlook downgrade following weak Australian results

Thu, 23 Aug 2018

By Sophie Boot Aug. 24 (BusinessDesk) - Metro Performance Glass's shares dropped 4.8 percent after the company downgraded its guidance at its annual shareholders' meeting this morning due to weakness at its Australian division. According to its presentation filed to the NZX, Metro Glass expects group earnings before interest and tax in the 2019 financial year to be at the lower end of its target range of $30 - $33 million, "as a result of weak year-to-date results in Australia following a period of significant change." The shares recen...

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