Mercer Group expects annual earnings to decline as it employs more staff; shares drop

Thu, 27 Feb 2014

By Tina Morrison Feb. 28 (BusinessDesk) –Mercer Group, the stainless steel fabricator, expects annual earnings to decline this year as it invests in more staff in anticipation of future earnings growth. The shares dropped 4.8 percent. Mercer expects earnings before interest, tax, depreciation and amortisation of about $2 million in the year ending June 30, down from $2.5 million last year, the Auckland-based company said in a statement. First half EBITDA slipped 19 percent to $1.1 million as the company employed more staff. The company’s sh...

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