Mercer narrows FY loss, forecasts return to profit in 2013

Tue, 28 Aug 2012

By Hannah Lynch Aug. 29 (BusinessDesk) - Mercer Group, the stainless steel fabricator, narrowed its full-year loss on an increase in its stainless division and is forecasting a return to profit in 2013. The loss was $1 million in the 12 months ended June 30, down from a loss of $9.4 million a year earlier, the Auckland-based company said in a statement. Sales rose 9.2 percent to $33.3 million. "The company has substantially completed its restructuring and is now concentrating on continuous improvement in its operating growth division as we...

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