According to Hashim, this was attributed to a 25.3% y-o-y drop in cost of sales to $47.2 million from the reversal of $3 million in unused project contingency provisions from the completed Malaysia projects and a 75% y-o-y decline in finance cost to $0.3 million in 2HFY2025 from debt repayment and lower interest rates.
Both PhillipCapital and OCBC Group Research are maintaining “buy” on Nordic Group (SGX:MR7
) following its recent FY2025 results.
In his Mar 6 report, Hashim Osman of PhillipCapital says that Nordic Group’s 2HFY2025 and FY2025 PATMI met 49% and 87% of his FY2025 estimates. Despite a 16.8% y-o-y drop in revenue to $68.4 million in 2HFY2025, PATMI grew 18.9% y-o-y to $10.7 million.
