Nordic Group reported earnings of $5.8 million for 1QFY2023, up 11% y-o-y. Revenue in the same period ended March was up 15% to $46.2 million, says the company in a business update on June 27.
For the three months, the company, led by executive chairman Chang Yeh Hong, was able to maintain its net margins at 13%.
As at March 31, the company has built up an order book of $205.2 million. Out of which, orders for maintenance work, which gives better revenue stability, constituted $134.4 million, or around two-thirds of the total. The smaller proportion came from project-based orders, which are typically lumpier in nature.
Over the years, the company has been actively diversifying its customer base, so as to reduce industry-specific risk. It did so via a series of acquisitions.
The company's shares last changed hands at 46 cents, down 4.17% year to date.
