Rapaport News


Rough Markets

Rapaport Broadcast
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

Advanced search
Latest Articles
Rough Markets
Polished Markets

India Upturn Boosts Sarine’s Results

Sales rise 2% in first quarter as firm ships larger quantity of Galaxy units.
May 23, 2018 7:45 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Sarine Technologies, which supplies equipment to diamond manufacturers, saw revenue rise in the first quarter, driven by increased sales of its Galaxy system in India.

Group revenue for the period grew 2% year on year to $16.7 million, the Israel-based company reported last week. Sales to India, its largest market, rose 4% to $13.5 million, outweighing a 42% drop in sales to Europe, which amounted to $344,000. Revenue from Israel climbed 16% to $1.1 million, while sales to the African market grew 24% to $854,000.

The performance of Sarine, which sells diamond-mapping technology and other equipment, is considered an indicator of the strength of the manufacturing sector. The company noted that rough-diamond prices had increased this year, but said that had not significantly impacted the midstream sector. The global economy is strong, and diamond businesses are showing prudent inventory management, it added.

The diamond-technology company’s profit jumped 27% to $3.1 million due to lower operating costs and changes to its tax expenses.
Tags: Alrosa, De Beers, Galaxy, Rapaport News, Sarine, Sarine Technologies
Similar Articles
De BeersDe Beers Sales Rise to Nine-Month High
Jan 29, 2020
De Beers’ January rough-diamond sales reached their highest level since...
WDC Welcomes New Executive Director
De Beers Plans Overhaul of Supply Policy
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us