Metro Performance Glass commences organisational review
Metro Performance Glass
5 Lady Fisher Place
East Tamaki
Auckland 2013
Market Release
NZX: MPG, ASX: MPP
18 November 2022
Metro Performance Glass commences organisational review
Metro Performance Glass (Metroglass) have undertaken a review of future activity scenarios in light of mounting
economic pressures that are likely to affect the construction sector.
As a consequence, the board and management have initiated a cost-out programme to ensure that the business
capacity and resources are appropriate to service demand as the cycle changes. This includes a comprehensive
review of its organisational structure and manufacturing footprint.
Staff consultation has commenced and the company is committed to providing support to all affected
employees.
The initiatives are expected to achieve annualised savings, in the New Zealand business, in the range of $8.0
million to $9.0 million with benefits accruing from the second half of FY23.
Metroglass expects group EBIT for the first half of FY23 to be circa $5.6 million. Net debt is expected to be
approximately $59 million. Interim results will be released on 29 November 2022.
/Ends
For further information, please contact:
Liam Hunt, Investor Relations
(+64) 0 22 010 4377, liam.hunt@metroglass.co.nz
Authorised for release by the Metroglass Board.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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