Cost of sales dropped 11.3% y-o-y to RM299.7 million.
Thanks to lower cost of sales, better product mix and higher average selling price, gross profit came up to RM196.7 million, 55.2% higher than the previous year.
Gross profit margin hence saw a 12.2 percentage points improvement to 39.6% from 27.4% last year.
A second interim dividend of 4.0 sen has been declared. Together with the dividend declared in 1QFY2024, the group’s total dividend payout stands at 82.0%.
See also: Keppel Pacific Oak US REIT’s 1QFY2025 distributable income falls by 19.3% y-o-y to US$9.6 mil
Looking ahead, the global semiconductor manufacturing industry projected a 6% y-o-y capacity expansion in 2024 and a 7% gain in 2025 to keep pace with unremitting growth in demand for high performance chips.
Wong Teek Son, executive chairman and CEO of Riverstone says: “The broad-based recovery in the global semiconductor manufacturing sector continues to bode well for us. We have seen a strong order flow for our core cleanroom gloves since the end of 2023. With continuous R&D to optimise our product specifications and new production lines expected to be progressively commissioned by the end of 2024, we are well-positioned to meet the growing demand from both existing and prospective customers.”
Shares in Riverstone closed at 90 cents on Aug 6.
