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NRA Capital Pte Ltd

Written by: NRA Team

Tuesday 6 Aug 2013

Riverstone Holdings - 2Q13 media release

Riverstone continues strong growth in 2Q2013

Riverstone continues strong growth in 2Q2013; Net profit rises 31% to RM14.4 million, revenue hits RM90.4 million

5 August 2013 – Riverstone Holdings Limited (‘Riverstone’ or ‘the Group’) 立合斯顿有限公司, a leading manufacturer of specialised cleanroom and healthcare gloves has reported another strong quarter of growing revenue and profits. Group revenue hit RM90 million for the first time, after just breaking the RM80 million barrier in 1Q2013. Net profit rose 31.2% to RM14.4 million. For the six months ended 30 June 2013 (1H2013), Group revenue rose 13.0% to RM171.2 million while net profit increased by 26.6% to RM26.3 million.
Key points:
  • Group revenue breaks RM90 million in 2Q2013 after just breaking RM80 million in 1Q2013
  • Declares interim dividend of 2.3 sen RM (compared to 2.2 sen RM for the corresponding period in FY2012)
  • Gross profit margin increased due to improvements in production productivity and favourable raw material prices
  • Group is debt-free and has RM91.2 million in cash and equivalents
  • Started work on a recently-acquired 30-acre site for Group expansion, expected to be operational in mid-2014

“Riverstone is continuing to grow from strength to strength on the back of healthy demand for our products, especially healthcare gloves. Accordingly, we have expanded our production capacity and will continue to do so in order to capture more of the demand. Due to the good results, I am also pleased to announce that the Board has recommended an interim dividend of 2.3 sen (RM) per share for this period.” - Executive Chairman and CEO, Mr Wong Teek Son (黄德顺)

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