Nordic Group

Nordic turned in a decent set of Q1 results. Revenue increased 15% to $16.6m and net profit increased 61% to $1.5m y-o-y. 3 of the 4 segments registered positive growth while scaffolding dipped slightly thus affecting overall margins slightly. It seems like financial effects from the big Chevron and Exxon Mobil contracts will only be felt in 2016. Order book currently stands at $40.8m, an all time high in recent times.

Cashflow remains strong with $2.7m operating cashflow generated and only $0.2m spent on capex. Some cash is used to repay short term debt.

The AE acquisition will occur in June, therefore 6 mths of profits will be recognised in 2015. The acquisition is funded with $20m debt and $6m cash. Also, the company states that the Precision Engineering segment is on the look out for partnerships. Might be a sign of more M&A.

Very solid growth!!

@ EGM today. Interesting insights into the potential of Austin Energy, the target of acquisition.

Presentation by Chairman Chang Yeh Hong followed by Q&A session -- total about 1 hour !



Look out for our report this weekend.

Addiction earning will give lift Nordic to the next level!

.....to visit Austin Energy, the latest acquisition by Nordic Group.

See details at: www.nextinsight.net/index.php/story-arch...ergy-you-are-invited

Pix from visit to Austin Energy this afternoon:


Good turnout of investors....


Cold beer to end the day....

Look out for more pix & our report in a few days' time.