Nordic Group Limited (SGX:MR7) is a global solutions provider in areas of System Integration, Maintenance, Repair, Overhaul & Trading, Precision Engineering, Scaffolding, Insulation Services and Petrochemical & Environmental Engineering Services.
In 2020, they are hit by a number of issues relating to Covid-19 such as the extended closures of the Group’s operations in China and Singapore’s circuit breaker where their services to clients were halted. These factors will definitely have a negative effect on their top and bottom line results.
Despite these factors, Nordic has a contract backlog of about S$98mil thanks to newly secured contracts worth S$30mil in 1Q20 and its latest acquisitions are likely to allow Nordic to have earnings growth in the coming years and emerge strong after this pandemic.
A Tepid First Half
The first half of 2020 should not be anything to get excited about. The results of 1H20 have not been released (Nordic changed to half yearly reporting) but according to their AGM, they have completed