NZ’s leading glass manufacturer, Metro Performance Glass Limited (NZX:MPG), forecasts a drop in earnings for the 2021 financial year.
However, the Company is pleased with its performance in the latest trading update. For the FY21 to be published by 21 May this year, Metro Performance anticipates the following-
- Metroglass is predicting an EBIT of NZ$16.5 million to NZ$18.0 million. Also, the Company posted an EBIT of NZ$21.8 million in FY20.
- CEO Simon Mander is pleased with the result considering the challenges the Company faced last year. The strong results indicate the resilience of the business and its staff.
- Net debt for the Company fell nearly NZ$18 million in line with their debt reduction target.
On 22 February, at the time of writing, Metro Performance Glass shares were trading at $0.420, decreasing by 5.62%.