Brierley's Mercantile first-half profit falls 34% on loan impairment, stock payments, tax

Mon, 29 Feb 2016

By Paul McBeth March 1 (BusinessDesk) - Mercantile Investments, the latest investment vehicle of veteran corporate raider Ron Brierley, posted a 34 percent drop in first-half profit as share payments, loan impairments and tax ate into dividend returns and an uplift in its stock portfolio. Net profit after minorities fell to A$583,000 in the six months ended Dec. 31, from A$880,000 a year earlier, the Sydney-based company said in a statement. The latest period saw Mercantile book an A$853,000 impairment charge on loans and A$164,000 of sh...

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