Metro Performance Glass expects 16% revenue decline

Metro Performance Glass has provided an update on its trading performance and outlook for the 2025 financial year.

The company expects to report a 16% decline in revenue for the year, with New Zealand revenue of about $134 million.

The decline was primarily driven by the North Island, where revenue is estimated to be $82m.

In the South Island, however, Metro Performance Glass anticipates revenue of $52m and growth in dollar gross margin.

The company's percentage material gross margin in New Zealand is expected to have improved to 70%.

Metro Performance Glass said market conditions in New Zealand remained challenging and volatile in the second half of the financial year and are expected to continue in 2026.

In Australia, trading by AGG, a subsidiary of Metro Performance Glass, has also been tough.

The company said it is committed to the turnaround of its New Zealand business and has made progress in delivery performance and operating efficiency.

It expects group revenue of $213m for FY25 and pre-IFRS 16 ebitda within the range of $3m to $5m.

For FY26, Metro Performance Glass has budgeted an 8% increase in revenue to $232m and a continued reduction in operating costs.