Riverstone’s 3Q earnings drop 16% to $7 mil

SINGAPORE (Nov 9): Riverstone Holdings has reported earnings of RM20.8 million ($6.8 million) for 3QFY16, a 15.6% decrease from the earnings of RM35.3 million in 3QFY15.

For the quarter to September, revenue rose 10.9% to RM167 million.

However, gross profit margins fell by 5.8 percentage points to 26.1% from the decrease in average selling prices of healthcare gloves.

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