Metro Performance Glass (MPG) H1 2026 earnings summary

Executive summary

• Achieved a turnaround to a net profit of $2.9m for the half year ended 30 September 2025, compared to a net loss of $5.0m in the prior year period.

• Revenue declined to $108.0m from $114.1m year-over-year, reflecting subdued market conditions.

• Significant items of $8.6m (mainly debt extinguishment and restructuring) positively impacted EBIT.

• Completed a $23.9m equity raise, primarily used to repay debt and strengthen the balance sheet.

Financial highlights

• Gross profit decreased to $41.3m from $44.9m year-over-year.

• EBIT improved to $9.5m from a loss of $1.1m, driven by significant items.

• Basic and diluted EPS rose to 1.0 cents per share from a loss of 2.3 cents per share.

• Net cash from operating activities increased to $5.8m from $3.4m year-over-year.

Outlook and guidance

• Directors expect subdued market conditions in New Zealand and Australia to persist in the short to medium term.

• Focus remains on improving profitability and complying with renegotiated banking facility conditions.