Riverstone - CGS-CIMB Research 2023-08-08: Deftly Navigating Industry Headwinds

• Riverstone (SGX:AP4)'s 2Q23 net profit of RM47m (flat q-o-q, -53% y-o-y) was in line with expectations, with 1H23 net profit forming 52% of our full-year forecast. Interim dividend of RM0.05 represents a 79% dividend payout ratio. See Riverstone's dividend dates.
• - Read this at SGinvestors.io -
• favourable FX trends (from weaker ringgit), and
• lower raw material costs.
• Riverstone said that as selling prices for generic healthcare gloves remain depressed amid intense industry competition, it has pivoted its focus to grow the orders of higher-priced customised gloves, which are usually in smaller order volumes and require nimble manufacturing capabilities.
  • - Read this at SGinvestors.io -
• Riverstone said it cleanroom sales volume was largely stable q-o-q in 2Q23 as new customer wins offset the lower volume offtake by existing customers.
  • Read more at SGinvestors.io.

Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.

Read also CGS-CIMB's most recent report:
2024-01-19 Riverstone - Special Dividend Likely; Returning To Profit Growth In FY24.

Previous report by CGS-CIMB:
2023-11-06 Riverstone - Emerging Stronger; Upgrade To ADD.

Price targets by 2 other brokers at Riverstone Target Prices.

Listing of research reports at Riverstone Analyst Reports.

Relevant links:
Riverstone Share Price History,
Riverstone Announcements,
Riverstone Dividend Payout Dates & Corporate Actions,
Riverstone News