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Sarine reports 27% rise in 1Q18 earnings to US$3.1 mil

PC Lee
PC Lee5/14/2018 7:24 AM GMT+08  • 2 min read
Sarine reports 27% rise in 1Q18 earnings to US$3.1 mil
SINGAPORE (May 14): Sarine Technologies, the manufacturer of equipment for the evaluation of diamonds and gemstones, reported a 27% rise in 1Q18 earnings ended March to US$3.1 million ($4.1 million) from a year ago on higher sales and operating expenses.
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SINGAPORE (May 14): Sarine Technologies, the manufacturer of equipment for the evaluation of diamonds and gemstones, reported a 27% rise in 1Q18 earnings ended March to US$3.1 million ($4.1 million) from a year ago on higher sales and operating expenses.

In 1Q18, Sarine recorded 2.4% higher revenues of US$16.7 million from last year although recurring revenues continued to climb even as the quantities of rough stones entering the pipeline declined by 10%, compared to 1Q17.

Growth in revenue on a sequential quarterly basis was driven by higher equipment sales and increased recurring income, reflecting renewed robust activities in India’s midstream diamond manufacturing sector.

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