In 3Q2023, Nordic won contracts worth $36.6 million, bringing its order book to $187.9 million as at Sept 30, 2023. Nordic Group, led by executive chairman Chang Yeh Hong, has been steadily acquiring related businesses in a bid to accelerate growth.
After some 20 months, Nordic Group (SGX:MR7
) has started buying back shares on the open market again. On Jan 3, the provider of engineering and maintenance services bought back 31,500 shares at between 36 cents and 36.5 cents each. From Singapore Exchange (SGX:S68) filings, the last time Nordic Group bought back shares was on May 30, 2022, when it acquired 231,200 shares at 42.5 cents each.
In its most recent business update for its 9MFY2023 ended Sept 2023, Nordic Group reported earnings of $13.6 million, down 18% y-o-y, even though revenue was up 8% y-o-y to $128.8 million as at end September 2023. Net asset value (NAV) stood at 29.8 cents per share, up 12%.
