Riverstone - RHB Research 2025-02-24: Chalks A Solid Close To FY24; Maintain BUY.

• We continue to like Riverstone for its unique exposure in the cleanroom segment, above-industry margin profile, and consistent dividends.
• - Read this at SGinvestors.io -

Riverstone FY24 results overview.

• Riverstone (SGX:AP4)’s commendable 2024 results are backed by growth in its sales volume and ASP. 4Q24 revenue contracted 7% q-o-q, likely from shipment delays (a similar effect was felt by other Malaysia glovemakers).
• - Read this at SGinvestors.io -
• Management announced a final Riverstone's dividends of 8 sen and special dividend of 4 sen (bringing its 2024 payout to 24 sen, vs 2023’s 12.5 sen), representing a payout ratio of 124%, and translating to a yield of 7% based on last Friday closing Riverstone's share price.

Outlook.

• Read more at SGinvestors.io.

Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2025-02-24 SGinvestors.io

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