Mercer Group widens annual loss on foregone tax assets, restructuring costs

Tue, 29 Aug 2017

By Paul McBeth Aug. 29 (BusinessDesk) - Mercer Group posted a wider loss as the cost of restructuring and foregone tax assets weighed on the bottom line. The Christchurch-based company reported a net loss of $7 million, or 16.96 cents per share, in the year ended June 30, from a loss of $6.5 million, or 39.15 cents, a year earlier, it said in a statement. The bottom line was weighed on by a $2.1 million tax expense after the firm gave up tax assets during a $7 million capital raise through a rights issue, which diluted the shares on issu...

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