23 Nov 2015

Metro Peformance Glass optimistic about results

7:40 pm on 23 November 2015

Listed glass manufacturer Metro Performance Glass says strong sales are behind a first-half profit at the top of its forecasts.

Christchurch construction.

Metro Performance Glass CEO Nigel Rigby attributed the rise in sales to factors such as the continued Christchurch rebuild. Photo: RNZ / Alexander Robertson

The company, which listed last year, reported a net profit of $11 million in the six months ended September, with sales up 8.4 percent on last year to $94.9 million.

Its chief executive Nigel Rigby said sales rose despite lower than expected market growth.

But, he said, the firm was riding the construction wave.

"[The] building industry is a very robust market. You're looking at very good drivers - low interest rates, good net migration, and a real focus on Auckland housing and Christchurch rebuild," he said.

Looking ahead, Mr Rigby said the company was focused on keeping costs in check as it continued to grow.

"We've got to continue to innovate logistically, from everywhere from procuring glass right through to how logistically we deliver that to the site," he said.

Metro Performance Glass is sticking with a full-year profit forecast of between $20 to $22 million.