Metroglass results glazed over by $10m impairment

Simon Mander: The focus is on paying down debt. (Image: BusinessDesk)

Mon, 29 May 2023

Metro Performance Glass has started showing the financial cracks of the construction downturn, reporting an after-tax loss of $10.5 million for the 12 months to March 2023.The lion's share of that was a $10m impairment on New Zealand goodwill on assets acquired prior to the group’s initial public offer in 2014, reflecting forecast lower construction activity in the group’s core residential and commercial glazing and retrofit markets. The net profit after tax loss for the previous comparable period was $459,000.At gross pro...

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