Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Sarine Technologies' net profit dips 85% in H1 2023

16 august 2023

Sarine Technologies Ltd has announced its financial results for the six months ended 30 June 2023. 

With a decline in the sale of polished diamonds and the subsequent reduction of rough diamonds in the pipeline, the midstream affected fewer manufacturing activities, leading to Sarine's traditional business of selling capital equipment and its inclusion scanning services being negatively affected.

As a result, Sarine Group's revenue and net profit fell 24% and 85% to $23.7 mn and $1.0 mn respectively in H1 2023. Trade-related revenues accounted for about 17% of its overall revenue in H1 2023 as compared to 11% in H1 2022.

The decline in profitability in H1 2023 was mainly due to lower revenue, a lower gross profit margin resulting from lower revenue and product mix, and stable operating expenses.

For H1 2023, the Board of Directors has recommended an interim dividend of $0.25 per ordinary share and the dividend is expected to be paid on 14 September 2023.

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