“This normalisation trend was evident since 4QFY2021 and is similar in 1QFY2022,” says the group in its May 10 statement.
Riverstone Holdings has reported earnings of RM108.7 million ($34.5 million) for the 1QFY2022 ended March, 79.2% down from earnings of RM522.7 million in the corresponding period the year before.
Revenue for the quarter fell by 61% y-o-y to RM402.3 million as demand for personal protection equipment (PPE), including the group’s glove products, have normalised post-Covid-19.
