MPG - Metro Performance Glass

[winner (n)]

Re customer satisfaction - wonder if they will have an updated one of these to show us

Deliveries / Lead Times pretty big in red .... same words in green a bit smaller (bigger the font the more the word used)

Quality pretty big in red .... but green Quality a bit bigger

Would have thought Deliveries Lead Time Quality were three of the more important service satisfaction measures

You cannot view this attachment.

[winner (n)]

ASM addresses ...some good positive bits but general tone seems to be we're stil in difficult times but we are doing our best

Guess this bit means FY23 result not  going to be that good -

Given the levels of uncertainty that are prevalent, we will not be providing a full year guidance at this early stage and will update shareholders further on the group's financial performance through our interim results announcement in Novembe


http://nzx-prod-s7fsd7f98s.s3-websit...636/376138.pdf

[Shareguy]

Just finished reading the agm. Not good and I think they need to do a cap raise asap, otherwise in real risk. Good luck to holders

[Shareguy]

Thay  say "Our customers continue to rate our service positively and guide our initiatives to improve"

I read the graph as going backwards in NZ. Not good with this result. 
 

[winner (n)]

Thay  say "Our customers continue to rate our service positively and guide our initiatives to improve"

I read the graph as going backwards in NZ. Not good with this result. 
 

If you ever bother answer "On a scale of 1 to 10, how likely are you to recommend Metroglass to a friend or colleague?" What do you score?

Such surveys are pretty meaningless

And yes .....cust satisfaction is down last few months.

[Ferg]

Oh dear.....if I could short this stock I would.  IMO the price has a greater chance of halving than doubling.  I don't think we will see 45c again this year or 2023.  I believe they have some fundamental issues that cannot be resolved without some sort of "event".  The sooner they realise this, the better it will be for everyone.

[Arbroath]

Yes compare them to STU who early on in their troubles raised $80m and paid off their debt. That provided them options. MPG should still raise $20-25m and get their debt down to a much lower level.

I see they are raising prices again 5% next month. They have managed reasonable cashflow in the past and reduced debt by about $45-50m but not sure they can reproduce similar cash flow to do it again over the next few years.

[Basil]

It takes "real skill" to have been in a building boom, command such a large market share and still be really struggling.  What a pack of Muppets !

[Minimoke]

It takes "real skill" to have been in a building boom, command such a large market share and still be really struggling.  What a pack of Muppets !

makes you wonder how they will do now the building boom is apparently over.

[Shareguy]

ACC bailing.

https://www.nzx.com/announcements/397262

[Basil]

Yeah and they have a LOT more to SELL.

[Shareguy]

The latest announcement does not bode well. They need to do a heavily discounted cap raise NOW. Otherwise.....

[Basil]

The latest announcement does not bode well. They need to do a heavily discounted cap raise NOW. Otherwise.....

Agree 100% but I doubt many investors would be prepared to stump up more capital or they would find anyone to underwrite the issue.  Receivership is a very real chance here in my opinion. Managment have never really been proactive before.  This cost out exercise...I'd happily wager quite a few bucks the bank is calling the shots on that.  It really feels like it's the last roll of the dice for MPG.

[lorraina]

Be interesting watching how this plays out with major shareholders'
Masfen Securities on 13.70% and Takutai [VSL's Peter Wells] on 9.16%.
A disaster I [luckily] avoided.

[Basil]

Closed at another new all time low today of just 17.5 cents.
I continue to be astonished how with a building boom and a dominant market share these guys have managed to so comprehensively stuff this company up.
Only just started a cost out exercise that I wouldn't mind wagering a few bob on was not an initiative of their own but something the bank insisted they do.
This gets my vote as the listed company most likely to go into receivership in 2023.