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Riverstone
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RIVERSTONE HOLDINGS LIMITED
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sutiono
Veteran |
06-Aug-2021 12:22
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Now PE Ratio only less than 3X . | ||||
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nitrodrops
Member |
06-Aug-2021 12:03
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sold down in last few weeks $1.5 to $1.16
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beng1102
Elite |
06-Aug-2021 10:19
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Once this go above 1.29 it would behave like a rocket.
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Richardlai
Master |
06-Aug-2021 10:17
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Wow great ! spectacular result ...... | ||||
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msksmsks
Supreme |
06-Aug-2021 10:10
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what sold down u implying ? Initial gap up for short term trader, punters etc to take profit is evitable...... Selling wl be absorbed by stronger hands whom hv a longer time horizon and faith in this Co which wl propel its price with greater heights With such strong earnings and forward biz guidance/conviction.......rest assured the smart ones (foreign insti) wl put RS into their portfolio Reckoned that it wl move higher soon Cheers
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Joelton
Supreme |
06-Aug-2021 09:55
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Riverstone reports 656.8% earnings jump
Glovemaker Riverstone Holdings has reported earnings of RM1.04 billion for 1HFY2021, up 656.8% y-o-y.
Revenue in the same period was up 222.2% y-o-y to RM2 billion, with demand for gloves shooting up amid the pandemic.
The company plans to reward shareholders with an interim dividend of 10 sen, versus four sen paid this time last year.
Wong Teek Son, the company&rsquo s executive chairman and CEO, is already gearing his company up for the longer-term beyond the pandemic.
For example, he wants to develop products for &ldquo untapped&rdquo markets such as the food processing, pharmaceutical and surgical glove segments.
At the same time, Riverstone is setting itself apart from other glove makers by focusing on high-end cleanroom gloves.
The company is in the midst of boosting its production capacity. In January this year, it bought a piece of land that can operate additional facilities.
According to Wong, once the company&rsquo s &ldquo phase seven&rdquo is completed, Riverstone will be targeting a total production capacity of 15 billion pieces per year by FY2023.
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PhillipTan
Supreme |
06-Aug-2021 09:44
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Riverstone H1 net profit surges to RM1.04b from RM137.5mMalaysian glove maker Riverstone Holdings Riverstone: AP4 0% posted a net profit of RM1.04 billion (S$333.1 million) for its first half ended June 30, 2021, nearly eight times the RM137.5 million for the same period in the previous year.This was driven by a surge in demand for the group' s healthcare examination and high-tech clean-room gloves amid the Covid-19 pandemic, the group said in a bourse filing on Thursday. Earnings per share stood at 70.22 sen for the half-year period, up from 9.28 sen a year ago. Revenue of RM2.02 billion for the period was treble the RM626.7 million for the prior-year period. An interim dividend of 10 sen was recommended for the half-year period, up from four sen a year ago. The date payable will be announced later. Selling and distribution expenses rose 67.2 per cent on year to RM15.6 million from RM9.3 million a year ago, which the group attributed to a marked increase in sales activities. General and administrative expenses also rose 96.8 per cent on year to RM30.9 million from RM15.7 million, due to an increase in payout of performance incentives towards its production line workers, the group said. Executive chairman and chief executive of Wong Teek Son said: " We are confident that our diversified income streams, strong R& D (research and development) and product development capabilities as well as market leading position in the clean-room glove business will ensure earnings resiliency and sustainable long-term growth for the group." " We have already set our sights on longer-term prospects to capture growth beyond the pandemic situation," Mr Wong added, noting that the group has developed new product offerings that will allow it to venture into markets including food processing, pharmaceutical and surgical glove segments. The group had in January acquired industrial land in Malaysia to develop its new clean-room glove processing facility, which it said can raise its processing capabilities to more than 2.5 billion pieces of clean-room gloves per annum, up from the current two billion. Riverstone added that its production capacity will also increase by 1.5 billion gloves upon completing phase seven of its expansion plans, and by an additional 1.5 billion gloves each year in FY2022 and FY2023 afterwards. This will bring the group&rsquo s total forward capacity to 15 billion pieces of gloves per annum by the end of the period, it said. Shares of Riverstone closed flat at S$1.21 on Thursday, before the announcement. |
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nitrodrops
Member |
06-Aug-2021 09:43
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such strong FCF, and still got sold down. | ||||
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boringguy
Member |
06-Aug-2021 09:18
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ya agreed with the statement. not all the glove company apply same ASP.. those get impact on the earning is the on the spot ASP and OBM. Those longer term contract they will have different ASP with their long term customer.. RS is different because the clean room glove demand very high.
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yamseng
Supreme |
06-Aug-2021 09:14
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some correction over last post rgd the dividend 1H 2020 dividend 4 cents before bonus issue 1H 2021 dividend 10 cents after 1 to 1 bonus issue should be 400% up compared to last year !! |
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msksmsks
Supreme |
06-Aug-2021 08:52
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SEEING IS BELIEVING Contrary to what analysts poor judgement of lower demand for gloves and decline ASP , RiverStone had delivered an impressive set of results which boosted its top & bottom line boosting it' s free cash flow and balance sheet and also DOUBLED its dividend payout Y/Y comparison. More importantly, Co also guided its expansion plan for additional prodn which wl be coming on board for Phase 7 as well as new and innovative products for untapped mkts such as food processing, pharmaceutical and surgical glove segments . In addition, also reiterated that their Biz Model is DIFFERENTIATED fm their industry peers due to their high end cleanroom glove biz which had earned the reputation as a clear industry leader for over two decades As a mark of confidence of Co outlook, dividend payout also doubled and guided resilient and sustainable long term growth . Having said , The Co able to achieve such results not only fm overwhelming demand but also HIGHER ASP which I thinked those analaysts whom hv the wrong preception need to be rectified. I' m opined RS wl recapture it' s past glory days and those foreign insti wl buy bk for such mispricing and adjust bk to it' s equilibrium . Also wished RS also hv plans to get listed in either HK or US as it wl be highly sought after . Cheers |
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spursfan
Supreme |
06-Aug-2021 08:49
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from live quote likely to gap up 5cts. | ||||
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yamseng
Supreme |
06-Aug-2021 08:30
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Q1 and Q2 on par should be great news even after some lockdown in Malaysia !! |
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boringguy
Member |
05-Aug-2021 23:19
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Good QR!!...expect more dividend to payout full financial year .. this because high demand on the clean room glove and medical glove... Riverstone less impact compare to big 4 player due to major factory at Perak taiping and they allow 80% worker to work. |
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not_98percent
Senior |
05-Aug-2021 23:16
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.... it is holding too much " cash in hand & at bank" plus " fixed deposits" .............. if no further expansion plans, should undertake a capital repayment / reduction plan ............. | ||||
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odebrecht
Member |
05-Aug-2021 23:09
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Fantastic half year results. Interim dividend of 10.00 sen! | ||||
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newbieliu
Elite |
05-Aug-2021 23:05
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I?m hopeful but no guarantee as there could a a delayed effect as some
Manipulators are at work
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TheMatrix
Elite |
05-Aug-2021 23:03
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Will the stock surge tomorrow? | ||||
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newbieliu
Elite |
05-Aug-2021 23:00
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Impressive ! Hopefully it brings along the others Med stock counters
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spursfan
Supreme |
05-Aug-2021 22:59
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Riverstone records 656.8% surge in net profit to RM1.0 billion for 1HFY2021 &bull Revenue climbs 222.2% yoy to RM2.0 billion for 1HFY2021, driven by the surge in demand for the Group&rsquo s healthcare and cleanroom gloves on the back of global shortages &bull Group continues to generate strong positive operating cash flows of RM1.1 billion for 1HFY2021 (1HFY2020: RM222.2 million), bolstering balance sheet strength with a net cash position of RM1.3 billion &bull As a mark of confidence in the Group&rsquo s outlook, the Board recommends an interim dividend of 10.00 sen (RM) (1HFY2020: 4.00 sen (RM)) to reward shareholders https://links.sgx.com/1.0.0/corporate-announcements/82QC215A9VGUTBA8/677583_Riverstone_Press%20Release%201HFY2021.pdf |
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