21 Nov 2014

$800k profit in two months for Metro

2:18 pm on 21 November 2014

Metro Performance Glass has made a net profit of $800,000 in its first two months of operating ended September.

The company - which started trading after it bought Metroglass Holdings - has reported sales in the two months of $31.5 million.

The glass manufacturer, processor and installer - which had more than 50 percent of the market - said it was on track to meet forecasts made at the time of its float in July.

But chief executive Nigel Rigby said the company would have to be on its toes over the next five months.

"One of the big initiatives we've got is building a new plant, which is a total capital cost, for the equipment only, of twenty twenty one and half million dollars".

"We're assuming that there's no significant changes in the market, and if there's no significant changes in the market we're on track to hit our forecasts on 31st March".

"Having said that, our most challenging five months are ahead of us. We've got to start up a new plant; there is a Christmas break; December in the building industry traditionally crams one month of trading into fifteen days, so it's a very challenging period for all suppliers", he said.

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