Riverstone Holdings has reported a net profit of RM52 million ($16.31 million) for the 3QFY2025 ended Sept 30, down 28% y-o-y. For the 9MFY2025, net profit came in 29.1% y-o-y lower at RM153.8 million.
Revenue for the reporting period declined 17.1% y-o-y to RM247.5 million, and 6.3% y-o-y for the 9MFY2025 to RM744.6 million.
This y-o-y decline in revenue was due to lower blended average selling prices for healthcare gloves amid intensified market competition, the group says.
However, on a q-o-q basis, revenue increased due to stronger sales volume of cleanroom consumables amidst robust demand from data centre and AI-related industries, as well as higher shipments of customised healthcare gloves.
For the 3QFY2025, gross profit declined 26.1% y-o-y and gross margin contracted by 3.8 percentage points (ppts), weighed down by unfavourable foreign exchange rates. On a q-o-q basis, gross profit grew 16.5% q-o-q due to favourable product mix and lower raw material costs.
For the reporting period, Riverstone generated RM46.0 million in net cash flows from operating activities.
Cash and cash equivalents stood at RM660.9 million as at Sept 30.
The board has declared an interim dividend of 2.5 sens per share, bringing the cumulative dividend payout ratio to 77.1%.
Shares in Riverstone Holdings closed 0.5 cents lower or 0.575% down at 86.5 cents on Nov 10.
