Mercer first-half loss widens; plans to split remaining businesses

Mon, 29 Feb 2016

By Paul McBeth Feb. 29 (BusinessDesk) - Mercer Group, the stainless steel fabricator and manufacturer, reported a wider first-half loss as it restructured the business and sold unprofitable units, and plans to split up its remaining two divisions. The Auckland-based company posted a net loss after minorities of $4.5 million, or 1.43 cents per share, in the six months ended Dec. 31, from $36,000, or 0.01 cents, a year earlier, it said in a statement. The latest loss included a $2.1 million restructuring cost and a $1.5 million deficit fro...

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