Riverstone Holdings Limited FY 2012 results

Riverstone announced a record FY2012 revenue of RM 309.8m and a net profit of RM39.7m. It also declares a final dividend of 3.8 sen, bringing total dividends for the year to 6 sen and translate into a yield of around 5.4%.

I have acquired my stake recently at 47 cents. The posting was here. The implied yield for me was around 5.7%. The net profit for Q4 dropped quite drastically due to a 100% increase in provision for taxation, which is pretty disappointing. They could have "spread out" the tax expenditure better throughout the years.

I think the outlook remains positive as the company completed the construction of additional production line at its plant in Ipoh in Dec 12 and increased its annual production by 600m gloves per annum. 

Below is the parting remarks by the CEO. We shall evaluate what he said next year.

Happy SRSing. I will cover the results of UMS in a separate post.