Riverstone - RHB Invest 2024-05-10: Off To A Strong Start; Maintain BUY

Riverstone - Off To A Strong Start; Maintain BUY

Riverstone (SGX:AP4) | SGinvestors.ioRiverstone (SGX:AP4)
  • Riverstone (SGX:AP4)'s 1Q24 core earnings grew 56.5% y-o-y to MYR70.6m, accounting for 26% and 27% of our and Street expectations. We deem the results as above expected, given that Riverstone’s 1H results were seasonally weaker (accounting for 24% of the group’s full-year core earnings in 2019).
  • - Read this at SGinvestors.io -

Results overview.

  • Riverstone's 1Q24 core profit came in above expectations, underpinned by higher sales volume from the cleanroom gloves segment following the recovery of the semiconductor and consumer electronic industries.
  • - Read this at SGinvestors.io -
  • On a sequential basis, revenue was higher while gross profit grew 7.2% q-o-q. Core profit margin contracted by 4.9ppts q-o-q to 28.3%, driven by an increase in performance incentives.
  • Riverstone declared an interim dividend of MYR0.04, representing a payout ratio of 82%. See Riverstone's dividend dates.


  • Read more at SGinvestors.io.

Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-05-10

Read also RHB's most recent report:
2024-05-13 Riverstone - Let The Good Times Roll; Keep BUY.

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 Dividends & Corporate Actions,
Riverstone News Articles


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