Riverstone Holdings Limited (SGX:AP4) recently reported its financial results for the financial year (FY) ended 31 December 2020.
The maker of specialised cleanroom and healthcare gloves posted record earnings as net profit surged 396.3% to RM647.3 million for FY 2020.
Here are 5 other interesting facts about the group’s latest earnings that investors should know about.
- Record revenue and net profit
Riverstone recorded an 85.0% year-on-year (“yoy”) increase in revenue from RM989.0 million in FY 2019 to RM1.8 billion for FY 2020. This was attributed to higher quantity of both healthcare and cleanroom gloves being shipped.
(Source: FY2020 corporate presentation)
Correspondingly, the Group’s gross profit rose by 351.3% yoy from RM198.9 million in FY2019 to RM897.6 million in FY 2020. The Group’s gross profit margin also improved from 20.1% to 49.1% due to higher average selling prices.
Stemming from the marked increase in sales activities, selling and distribution expense...
