Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future

Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...

28 october 2024

Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...

23 september 2024

Sarine Group’s revenue dips 13% in H1 2022 under challenging conditions

11 august 2022
Sarine Technologies Ltd has announced its financial results for the six months ended 30 June 2022. Notwithstanding the challenging business environment, the Group has achieved robust results, with revenues only 13% lower than those reported in H1 2021 which was an exceptionally strong period in the midstream segment of the diamond value chain.
Under challenging conditions, the Group revenue declined from $36.0 mn in H1 2021 to $31.2 m in H1 2022. The new category of Trade-related revenues, within the overall recurrent revenues, grew by some 70% to approximately 11% of Group revenue in H1 2022, up from just under 6% in H1 2021. The more significant decline (-48%) in profitability in H1 2022 was mainly due to the lower sales and also the overall increase in operating expenses, as operations returned to their normal.
The Sarine Group delivered 32 Galaxy®-family inclusion mapping systems in H1 2022 with a significantly higher mix (12) of systems for scanning large stones, primarily to customers in Africa. As of June 30, 2022, the total installed base was 743 systems.
For H1 2022, the Board of Directors has declared an interim dividend of US 1.0 cent per ordinary share as per the stated dividend policy and a special interim bonus dividend of US 0.5 cent. The dividend is expected to be paid on 2 September 2022.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished