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National Party leadership, the Covid-19 inquiry, petrol fears
Brent Edwards
Sat, 14 Mar 2026
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Fri 13 Mar 2026 06:17:02pm
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Fri 13 Mar 2026 06:17:02pm
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Metroglass expects to narrow full-year loss
NZX-listed Metro Performance Glass expects to significantly reduce its full-year loss. The company said in a trading update it expects to report between a $2m loss and a $2m profit in the 12 months ended March, compared with a $16.6m loss in the prior year. Revenue is expected to be about 9% below its prior forecast of $226m, due to lower volumes and pricing pressures. Meanwhile, MPG expects its full-year earnings before interest, tax, depreciation, and amortisation will be below its prior guidance of $15.4m. The company said the construction market has not improved since its half-year update, particularly in the North Island and in New South Wales. However, there has been some improvement in recent months. Despite these challenges, net debt levels are expected to be close to the level they were at in September, which the company said showed the resilience of its balance sheet and cost-cutting measures. The effect of rising fuel prices at this stage is unknown.
Taiko Critical Minerals extends trading halt
A trading halt for newly listed mining minnow Taiko Critical Minerals will continue until Tuesday March 17 as it prepares a further market announcement about a “financial model” released on March 11.
The model included estimates of equity returns and revenues from the company’s proposed mining activity near Barrytown. Shortly after its release NZX RegCo imposed a trading halt in Taiko’s shares while it “discusses with TCM the market announcement”.
The halt was due to end on Friday morning but Taiko sought an extension “to further discuss the announcement”.
“TCM considers it appropriate that no trading occurs while these discussions occur, and prior to release of a further market announcement, to ensure trading in TCM securities can occur on a fair, orderly and transparent basis,” it said.
Taiko shares last traded at 21.5c, valuing the pre revenue company at $87.9 million.
Annual net migration gain improves, while more tourists arrive
New Zealand migration has improved as fewer Kiwis decide to leave the country.
Statistics NZ data today showed a provisional annual net gain of 23,200 people in the year to January, compared with a gain of 19,700 the previous year, as arrivals outpaced departures.
However, the annual gain was still well below a peak set in October 2023 at 135,500.
On a monthly basis, there was a net gain of 4800 in January, compared with a gain of just 100 the same month last year.
Meanwhile, the post-Covid tourism recovery continues as more overseas tourists flock to New Zealand for a holiday.
Stats NZ said today that there were 385,400 overseas visitor arrivals in January, up 15,200 from the same month last year.
There were 10,700 more Aussies holidaying here during the month, as well as an extra 3700 people from the UK. On the flipside, Asia’s economic woes continue to weigh on travel, with fewer tourists from China and Korea.
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