Mercer, worst-performing stock on NZX this year, widens annual loss

Mon, 24 Aug 2015

By Tina Morrison Aug. 25 (BusinessDesk) - Mercer Group, the stainless steel fabricator and manufacturer, widened its annual loss after only one of its units turned a profit and it wrote down the value of its assets. The Auckland-based company posted a loss of $6.7 million, or 2.21 cents a share, in the 12 months ended June 30, from a loss of $457,000, or 0.17 cents, a year earlier, it said in a statement. Mercer posted a $7.9 million loss before finance costs and tax, after forecasting a loss of $7.8 million a fortnight ago. The result in...

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