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.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
