Riverstone Holdings' net profit falls to $17m in Q1

It fell despite a 1.1% YoY higher revenue.

Riverstone Holdings Limited's net profit fell 21.8% year-on-year (YoY) to $17m (RM56.4m) in Q1 FY 2025.

The group attributed the fall to other income declining by 23.9% YoY to $1.8m (RM5.9m) due to lower interest income from fixed deposits.

Accordingly, gross profit declined 15.7% YoY to $25m (RM82.2m) due to higher raw material costs, US dollar depreciation against Malaysian ringgit, and market demand dynamics.

Despite this, group revenue increased 1.1% YoY to $76.8m (RM252.3m), driven by higher sales volume.

The board recommended an interim dividend of 3.0 sen per ordinary share.

($0.30=RM3.28)

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