Sarine book net profit up nearly 600%
Sarine revenue 52% to US$62.1 million Update 1: Sarine Technologies Ltd announce its full year FY2021 results for the 12 months ended 31 December 2021. Its review of FY202 refers, the lockdowns following the onset of Covid-19 in H1 2020 disrupted diamond manufacturing activities in India and retailing activities throughout the world. With the gradual resumption of retailing activities in H2 2020, the diamond industry rebounded in late 2020 and this positive momentum carried over into 2021. The pent up demand, continuing restrictions on international travel and fiscal stimulus by many governments contributed to strong consumer demand for diamond jewellery in 2021. With overall positive business conditions for most of FY2021 and the strong resurgence of diamond manufacturing activities, Group revenue rose 52% to US$62.1 million, benefiting from increased capital equipment sales and higher recurring revenues, primarily from Galaxy inclusion scanning revenues, which rose 4...