Nordic Group Q4 profit rises 14% to S$4.35m

SINGAPORE - Nordic Group posted a fourth-quarter net profit of S$4.35 million, up 14 per cent from last year, as revenue rose 10 per cent to S$20.75 million for the three months ended Dec 31, the precision engineering and systems integration solutions provider announced on Monday night (March 5).

This was largely thanks to revenue from the group's Maintenance Services segment, boosted by contributions from Ensure Engineering - which Nordic acquired for about S$17 million last year.

Earnings per share came in at 1.1 Singapore cents for Q4 FY17, up from one Singapore cent in the year-ago period.

A final dividend of 0.873 Singapore cent has also been recommended for the quarter, subject to shareholders' approval at an annual general meeting to be convened.

For the full year, net profit rose 20 per cent to S$15.27 million, and revenue was up 12 per cent to S$91.5 million.

Looking ahead, the group cited an improving market outlook for its systems integration business, adding that it has a "healthy book order" of S$106.8 million to be realised from FY18 to FY21.

As at 11.49am on Tuesday, shares in Nordic were trading 1.8 per cent, or one Singapore cent higher to S$0.56 apiece.

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