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Nordic Group reports 22% higher 1Q18 earnings of $3.4 mil on higher maintenance sales

PC Lee
PC Lee5/9/2018 07:36 PM GMT+08  • 2 min read
Nordic Group reports 22% higher 1Q18 earnings of $3.4 mil on higher maintenance sales
SINGAPORE (May 9): Nordic Group, the petrochemical engineering company serving the offshore oil and gas industry, reported 22% higher earnings of $3.4 million for the 1Q18 ended March from a year ago.
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SINGAPORE (May 9): Nordic Group, the petrochemical engineering company serving the offshore oil and gas industry, reported 22% higher earnings of $3.4 million for the 1Q18 ended March from a year ago.

Nordic’s revenue grew 14% to $22.7 million mainly attributed to higher revenue contribution from the group’s maintenance services business segment, following the acquisition of Ensure Engineering on April 28.

Revenue from maintenance services business segment rose 71% to $9.3 million in 1Q18 from $5.5 million in 1Q17. Revenue from project services remained stable, increasing by 2% to $13.4 million in 1Q18 from $13.1 million in 1Q17.

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