Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Sarine's 2Q Revenue +12%, Profit +4%

20 august 2014

Sarine Technologies Ltd., the diamond equipment manufacturer, reported that revenue grew 12 percent year on year to $24.7 million during the second quarter that ended June 30. The company's profit rose 4 percent to $8.6 million, as sales growth was partially offset by an increase in the corporate tax rate paid by the company. The company’s diluted earnings per share increased 2 percent to 2.4 cents per share during the period, Rapaport reports.
Sarine’s strongest growth market for the quarter was across North America, where revenue jumped more than tenfold to $287,000. In absolute terms, most of the company’s growth occurred in India, the world’s main diamond manufacturing hub, where Sarine’s sales increased 19 percent – or $3.3 million – $20.2 million during the period.
During the first six months of the year, Sarine’s sales grew 16 percent year on year to $49.1 million. Profit increased 8 percent to $17.6 million, while diluted earnings per share rose 5 percent to 5 cents. The board declared an interim dividend of 3 cents per share to be distributed to shareholders. The dividend is comprised of 2 cents as part of the company’s regular dividend policy coupled with a 1 cent special dividend.
The company delivered 34 of its Galaxy systems during the first half, raising the global number of Galaxy systems in use to 175. Meanwhile, Sarine said that recurring revenue from its pay-per-use  model reached 35 percent of total revenue.
Sarine’s management said that they anticipate revenue gains to continue through the second half of the year as favorable macroeconomic conditions are expected  and, in particular, a stable rupee to dollar exchange rate.