Nordic Group, the Singapore-based automation systems integration solutions provider for the marine and offshore oil and gas industries, says it posted a 17% y-o-y fall in net profit attributable to shareholders for the full-year ended 31 December 2010 (FY2010) to $7 million.

This was due to significant forex differences in the last quarter, as a result of the weakening US dollar (USD) which the group’s revenue is largely denominated.

Group revenue rose 9% to $45.6 million, due to an increase of $4.5 million in contribution from its Precision Engineering business generated from its Suzhou facility, and a $1.8 million increase in contribution from its MRO & Trading business segment. This was partially offset by a $2.7 million decline in the sales of its Systems Integration business which experienced a lag effect from the global economic recession in 2009.

But foreign exchange differences impacting the group during the year amounted to $1.7 million, of which $0.8 million was recorded against the revenue line.

The group says its order book remains strong as at 24 February 2011, with outstanding orders amounting to $32.5 million, scheduled for delivery in the next 24 months, generating a steady stream of revenue contribution up to FY2012.

/theedge/

 

Then what is the actual price should be?

i personally feel 18.5c is a tad too high for this coy.
coupled with the lack of news coming from the company,
it might be good to dump it at 18c.