Citing market leader Top Glove, which reported its earnings recently, costs of raw materials have eased for the industry. Tng, in his Oct 13 note, notes that Riverstone should similarly benefit as well.
William Tng of CGS International has held his "add" call on glove maker Riverstone Holdings. He expects the company to report better 2HFY2025 earnings but warns that there will be some drag from a weaker US dollar versus ringgit, the reporting currency.
For the coming 3QFY2025 ended May, Tng expects the company to report earnings that's up 31% q-o-q thanks to electronics-related demand for gloves used in cleanrooms, but down 18% y-o-y to RM59 million.
