Sarine is the leading provider of equipment and services for the diamond manufacturing industry. These help to automate planning and maximise yield. It has also developed products that allow it to enter the much larger and more profitable wholesale and retail segments of the industry.More Sarine Technologies content >
As the midstream market continues to struggle, Sarine reported a net loss of US$1.4m in Q119 amid weaker scanning activity and lower margins on equipment sales. In this environment, the company is focusing on prudent cost management and further promotion of retail-oriented products (which remains a minor part of the business at just under 3% of Q119 group sales). Management has recently seen some initial signs of potential recovery in the number of scanned stones. The company retained a solid gross cash position of US$32.7m (vs US$28.9m at end-2018).