Riverstone - RHB Invest 2024-08-07: Results In Line With Expectation; Maintain BUY

• Riverstone (SGX:AP4)’s 2Q24 core earnings grew 59% y-o-y to MYR72.4m, bringing its 1H24 numbers to account for 47% of both ours and Street’s expectations. We deem the results to be in line, predicated by solid demand recovery for both healthcare and cleanroom gloves.
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Results overview.

• Riverstone’s 1H24 core earnings came in in line with our expectations underpinned by higher ASP and robust demand recovery for cleanroom and healthcare gloves. Gross margin expanded 11.3ppt y-o-y on the back of a better product mix (i.e. higher sales from cleanroom and healthcare specialty gloves).
• - Read this at SGinvestors.io -
• Riverstone declared a second interim dividend of 4 sen (MYR), representing a payout ratio of 82%. See Riverstone's dividend dates.

Outlook.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2025-11-11 Riverstone - Cooling Off After The Rally; Downgrade To NEUTRAL.

Previous report by RHB:
2025-08-11 Riverstone - Turning The Corner; Maintain BUY.

Price targets by 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