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
Exclusive
Yoram Dvash: Industry unity, producer leadership and marketing investment key to natural diamond's future
The natural diamond industry is navigating a period of significant transition, but there are increasing signs that the foundations for a stronger and more positive future are being built, according to the World Federation of Diamond Bourses (WFDB)...
29 june 2026
AWDC: First fully traceable artisanal diamonds from DRC sold on the international market in Antwerp
In a historic milestone for the diamond industry, fully traceable, artisanal diamonds from the Democratic Republic of Congo have been sold on the international market for the very first time in Antwerp. Below, Ine Tassignon, AWDC spokesperson, provides...
22 june 2026
Natural diamonds most desired luxury jewellery, Gen Z spending double baby boomers, reveals De Beers report
Natural diamonds remain the most desired jewellery item among US consumers, with Millennials and Gen Z driving demand value and spending, according to De Beers Group’s The Diamond Report, which draws on the biannual Diamond Acquisition Study of 18,500...
15 june 2026
Edahn Golan: India’s lab-grown diamond exports surpass natural diamonds by volume, yet value gap widens
India’s diamond industry has reached a historic turning point. In March and April 2026, the volume of lab‑grown diamond exports overtook that of natural diamonds, with lab‑grown stones accounting for 51% and 50.4% of total export volume respectively...
01 june 2026
Dr M’zée Fula-Ngenge: Kimberley Process failing Africa
The Kimberley Process (KP) is failing Africa, and the world's definition of a “conflict diamond” is a moral and legal absurdity, according to the African Diamond Council (ADC) chairperson M’zée Fula-Ngenge. The following exclusive...
18 may 2026
