Riverstone Holdings (SGX:AP4
) has reported a net profit to equity holders of RM41.1 million for 1QFY2026, ended March 31, 2026, down 27.1% y-o-y.
According to Riverstone, 1QFY2026 was a challenging quarter as the strengthening of the Malaysian Ringgit against the US dollar weigh on its revenue.
Despite stable sales volume for both cleanroom and healthcare segments, Riverstone’s revenue was down 15.1% y-o-y to RM214.3 million.
Meanwhile, gross profit declined 24.6% y-o-y to RM62 million with gross profit margin at 28.9% in the same period.
Riverstone mentions that it continues to generate positive operating cash flows in the quarter. Cash and cash equivalents grew RM69.8 million to RM700.2 million as at March 31, against RM630.4 million as at December 31, 2025.
The Group adds that long term outlook remains positive, supported by sustained demand from its cleanroom business. While the ongoing geopolitical tensions disrupted global raw material supply chains, its long-standing supplier relationships have allowed it to secure raw material supply through June.
See also: Kimly's 1HFY2026 earnings up 10.6% y-o-y to $16.4 mil
“While gloves represent a small portion of our customers' overall production costs, they are a critical input. Our customers have been working closely with us to navigate the current supply tightness and ensure timely delivery of orders. We remain resilient and cautiously optimistic about the long-term business growth prospects,” says Wong Teek Son, executive chairman and CEO of Riverstone.
Shares of Riverstone closed 3.5 cents higher, or 4.79% up at 76.5 cents on May 8
