Riverstone expects healthy demand for cleanroom and healthcare gloves
Its CEO says there is sustainable demand for cleanroom gloves as more such facilities are being built and demand for chips and electronic items climb.
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FOLLOWING a banner year for glove maker Riverstone Holdings in 2021, investors might start to worry about how sustainable the Malaysian manufacturer's earnings are in 2022 and beyond.
Riverstone's top line rose 68.5 per cent to RM3.1 billion (S$1 billion) in FY2021 as demand and average selling prices for both healthcare and cleanroom gloves surged amid the pandemic. Earnings more than doubled to a record high of RM1.4 billion on higher turnover and margins.
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