21 Jun 2013

Mercer Group downgrades profit guidance

1:03 pm on 21 June 2013

The stainless-steel products company Mercer Group has downgraded its profit guidance, citing delayed sales and a hold-up in signing a licence agreement.

Mercer says it now expects operating profit will be between $2.2 million and $2.5 million for the 12 months ending this month, down from the $3 million it was forecasting in February.

Chief executive Rodger Shepherd says two large sales of the company's food-slicing Titan equipment won't happen now until early in the next financial year.

Nor will a licensing agreement with a large multinational company related to medical sterilising technology