, Malaysia
Photo by Jakub Żerdzicki on Unsplash

Riverstone Holdings' revenue climbs 7.4% in H1 2024

However, revenue for Q2 2024 remains stagnant. 

Riverstone Holdings Limited saw its revenue expand by 7.4% year-on-year (YoY) to RM496.4m ($146.9m) in the first half of the year (H1 2024), fueled by demand for cleanroom and healthcare gloves. 

However, revenue for Q2 2024 remained relatively flat (-1.0% quarter-on-quarter) despite port congestion from Red Sea diversions. Although, on a YoY basis it jumped 10.1% to $72.95m (RM246.9m).

Gross profit grew by 55.2% YoY to $58.2m (RM196.7m) with a gross profit margin of 39.6% for H1 2024, driven by product mix, a higher average selling price, and a lower cost of sales. 

The top-line and gross profit contributed to a 54.6% YoY increase in net profit, reaching $42.8m (RM144.7m).

Meanwhile, the global semiconductor manufacturing industry projected a 6% YoY capacity expansion in 2024 and a 7% gain in 2025 to keep pace with growth in demand for high-performance chips.

($1.00 = RM3.38)

Follow the link s for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Singapore’s aged care homes fall short
Their services are routinary and not personalised mainly due to resource constraints.
Healthcare
ArrowBiome develops technology to kill specific bacteria in humans
The Singapore startup focuses on the personal care market but may expand to gut health soon.
Healthcare
Mediation drives legal hiring growth in Singapore
Corporate and commercial law is also set to boost hiring in 2025 amid M&As.
HR & Education