Riverstone Holdings Limited continued to report gains in the first quarter of 2024 following a 54.5% increase in its net profit to $20.62m versus the same period last year.The growth was backed by an increase in revenue by 4.8% year-on-year to $71.25m driven by higher sales volume from the cleanroom glove segment following the recovery of semiconductor and consumer electronics industries.
“Riverstone recommended an interim dividend of 4.0 sen , translating to a dividend pay-out ratio of 82.1% for the period under review,” it said. The company is optimistic about the growth of its core cleanroom glove segment. It expects the recovery in the semiconductor and consumer electronics industries by end-FY2024 will drive orders for our gloves.
Riverstone also plans on building new lines this year to increase capacity for cleanroom glove production to support longer-term demand in the space.“We are better positioned to capitalise on the uptrend given our product mix entailing higher-value customised products. Going forward, we will continue to focus on increasing our product value and new customer acquisition through customisation,” Riverstone Chairman and CEO Wong Teek Son said....
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.OCBC logs record net profit of S$1.98b in Q1; EPS is S$1.
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