Building products supplier Metro Performance Glass has 50 per cent more glass on hand to sell into a residential construction market that’s slowing down markedly.
“It’s a challenge,” Metroglass chief executive Simon Mander told Markets with Madison.
He’d witnessed a 10 per cent slowdown in the past year and expected it to hit 20 per cent this financial year, as higher interest rates and fewer home building consents took a toll.
“No one’s talking the market up.”
Metroglass posted a $10m loss in the year to March due to taking an impairment on assets. It announced a restructure last year.
Mander discusses why Metroglass has increased its inventory and debt, the turnaround of its Australian business and his plan to achieve profitability in a downturn, on today’s episode of Markets with Madison above.
Meanwhile, NZX-listed biotechnology company Pacific Edge is awaiting a decision that could erode significant revenue in its largest market, the United States.
If a proposed change to Medicare cover was confirmed, it would mean PEB’s bladder cancer diagnostic tests would no longer be covered by the health service.
Chief executive Peter Meintjes told Markets with Madison it had lobbied for changes to the proposal’s “unintended consequences”.
He discusses how the business would operate in a worst-case scenario in today’s episode.
Get investment analysis and insights from the experts on Markets with Madison every Monday and Friday on the NZ Herald.
Disclaimer: The information provided in this programme is of a general nature, and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.
Interest rates are being cut with another Reserve Bank move expected this week, but how soon will it result in economic relief and recovery? Video / Cameron Pitney