Riverstone - UOB Kay Hian 2024-11-13: 3Q24 Results In Line; Healthy Outlook Ahead With Capacity Expansion

• Riverstone's share price is trading at a deep >200% discount to its Malaysian glove maker peers’ trading multiple of 50x 2025F P/E despite the group’s higher margins and attractive 8% dividend yield vs peers.
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3Q24 results in line.

• Riverstone (SGX:AP4) reported a net profit of RM72m for 3Q24 (flat q-o-q, +22% y-o-y), in line with expectations. 9M24 net profit formed 75%/73% of our/consensus full-year forecasts respectively.
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Margins compressed on higher input costs and forex loss.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Previous report by UOB:
2024-07-25 Riverstone - Strong Earnings Expected; Target Price Raised To S$1.16.

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