Riverstone Q1 profit falls 27.1% to RM41.1 million on a stronger ringgit
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Riverstone Holdings reported a 27.1% decline in Q1 net profit to RM41.1 million, attributed to a stronger Malaysian ringgit against the US dollar. Revenue fell 15.1% to RM214.3 million despite steady sales in cleanroom and healthcare segments. No dividend was declared. CEO Wong Teek Son noted challenges from macroeconomic factors but expressed cautious optimism due to stronger-than-expected customer demand, particularly in cleanroom gloves. Shares rose 4.8% to S$0.765 before the announcement.
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