$SGX-AP4 RIVERSTONE - the most profitable glove company in Q2 2022

(arguably the most profitable glove company in CY2022 thus far [depends on how much HARTA was taxed in Q1 2022]

Riverstone released their result yesterday and it was remarkable (in the context of the current market).

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Breakdown:
Q1 2022 PAT RM109m
Q2 2022 PAT RM100m

1H 2022 PAT RM209m
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The company made around RM100m profit for the quarter - that's higher than any Malaysian glove company! HARTA (just released) recorded RM88m, KOSSAN recorded RM46m; TOPGLOV (Feb-May) recorded RM15m and the others are probably struggle to keep themselves profitable.

Bear in mind that vs the top 4 glovemakers, in terms of capacity of glove produced per annum:

TOPGLOVE capacity is 100b
HARTA capacity is 44b
KOSSAN capacity is 34b
SUPERMAX capacity is 26b

whilst RIVERSTONE capacity is at 12b!!

Also included is dividend announcement of 10c or around 4% yield. They're giving back their excess cash to the shareholders.

Will share more updates post briefing.

@zhexiangxd @maxtan @Maxtan727 @terence775 @Jay888 @victoryong @THL02 @FIRLGuys @leonjakelim