Singapore Stock Market News

Riverstone Holdings - A Stellar 1Q15

StockFanatic
Publish date: Tue, 05 May 2015, 07:22 PM
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Riverstone reported a stellar 1Q15, with revenue surging 45% YoY to MYR127.2m, driven by a higher sales volume as its 1bn capacity expansion came online. As we continue to expect stellar quarters ahead, we maintain BUY and lift our FY15F NPAT by 15%, resulting in a higher TP of SGD1.54 (27% upside, 16.3x FY15 peer average P/E). NPAT surged 69% YoY to MYR27m, at 33% of our previous estimate and exceeding the previous consensus forecast.
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