![Riverstone Holdings - CIMB Research 2016-05-09: Further margin compression a key risk Riverstone Holdings - CIMB Research 2016-05-09: Further margin compression a key risk](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj5cYFwQ0cNyuaeTin7oHmRmts4sFHiRMrDgVBswxpW9hfRjt8K6VZCFSYgU_tdI5DAx3gpVSYp9uTUM9T8NDV0eOJDRGNoWhplcqdEC-zJD2QwTcJXpqI2_giMyGAOJYe15Y4QvQrE0Q2a/s1600/riverstone+holdings.png)
Riverstone Holdings - Further margin compression a key risk
- 1Q16 core net profit slightly below, at 20%/19% of our/consensus full-year forecast.
- 1Q16 net profit flat yoy despite sales increase of 17%.
- GPM dipped 2.5% pts yoy due to change in product mix and adverse FX impact.
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