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Nordic Group’s 3Q earnings rise 14% to $3.6 mil on reduced expenses

Michelle Zhu
Michelle Zhu11/11/2016 06:47 PM GMT+08  • 2 min read
Nordic Group’s 3Q earnings rise 14% to $3.6 mil on reduced expenses
SINGAPORE (Nov 11): Nordic Group posted earnings of $3.6 million for 3Q16, 14% higher than $3.2 million in the previous year, which was mainly due to lower costs.
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SINGAPORE (Nov 11): Nordic Group posted earnings of $3.6 million for 3Q16, 14% higher than $3.2 million in the previous year, which was mainly due to lower costs.

Revenue fell marginally by 1% to $21.4 million from $21.72 million the year before due to a decline in contribution from the project services segment.

On the other hand, gross profit margin grew to 31% for the quarter as compared to 28% in 3Q15 due to higher margins from the group’s maintenance services segment.

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