“Nordic’s revenue compound annual growth rate (CAGR) of 9.3% from 2010 to 2024 suggests that acquisitions have had meaningful long-term impact on topline growth. These acquisitions also provide strategic risk diversification benefits by securing distinct sources of revenue, with subsidiaries like Starburst and Envipure providing exposure to less correlated sectors like defence and sustainability,” states Goh.
OCBC Group Research analyst Bryan Goh has initiated a “buy” call on Singapore-based engineering solutions provider Nordic Group (SGX:MR7
) with a fair value of 59 cents.
In his Jan 15 report, Goh pointed out that as part of Nordic’s growth strategy, it has acquired seven companies since its listing back in 2010, in bid to broaden its revenue base.
