Mercer shares at two-year high on return to profit

Tue, 25 Aug 2020

Mercer Group shares hit a two-year high after the company returned to profit and said it will transition to a technology and automation company under a new moniker, MHM Automation, from September.The company reported a profit of $934,000 in the 12 months ended June 30, turning around a loss of $1 million a year earlier. Revenue climbed 35 percent to $51.6 million, of which its automation business contributed $41.8 million. The stainless steel business, which Mercer is known for, posted a decline in revenue as several customers delayed investmen...

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