- 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.
- - Read this at SGinvestors.io -
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.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2024-08-07
Read also RHB's most recent report:
2024-11-13 Riverstone - Growth Remains Intact; Maintain BUY.
Previous report by RHB:
2024-11-12 Riverstone - A Commendable Quarter; Maintain 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
