The group’s maintenance service segment saw an 83% increase in revenue to $10.4 million from $5.70 million last year.
Meanwhile, revenue from the project services segment was up by 4% to $16.4 million from $15.7 million a year ago.
Similarly, cost of sales increased 21% to $17.7 million from $14.7 million a year ago.
Hence, gross profit came up to $9.07 million, 35% more than $6.73 million recorded in 3Q16, while gross profit margin increased to 34% from 31% in the previous year.
Interest income increased 95% to $51,000 from $26,000 last year.
Finance costs increased more than double to $0.46 million from $0.22 million the previous year, due to higher interest expenses from increase in interest rates and more borrowings from the acquisition of Ensure.
Administrative expenses increased 17% to $3.25 million from $2.78 million last year, due to higher administrative expenses contributed by Ensure.
In 3Q17, the group recorded other losses of $0.28 million compared to other gains of $0.49 million a year ago, arising mainly from foreign exchange losses due to the weakening of USD against SGD.
As at Sept 30, the group has recorded outstanding orders amounting to about $99.4 million.
On the outlook, the group remains positive over the long-term prospects in the marine, offshore oil and gas industries, petrochemical sectors, pharmaceutical and infrastructure industries.
Shares in Nordic closed at 58 cents on Thursday.
