Metro Performance Glass reports revenue drop, loss

Metro Performance Glass has reported a decline in revenue and a loss for the six months ended September 30, 2024.

Revenue was $114 million, down from the same period last year, while the company recorded a loss of $5m.

The increase in net debt, from $53m to $55.2m, was also in line with expectations.

The company attributed the challenges to a fall in demand across the sectors it operates in, but expressed confidence that it did not result in a loss of market share.

Metro Performance Glass said its revenue drop was less than the market fall and that it had actually increased market share.

The company's focus, it said, has been on its turnaround and restructuring efforts, as well as reducing its cost base.

Metro Performance Glass has already taken out $3m of costs in the 2025 financial year and aims to achieve a further $3m in cost savings for the 2026 financial year.