- Sarine Technologies (SGX:U77)'s FY22 revenue declined 5% y-o-y, within expectations. Diamond markets have since moderated from its exceptional highs in FY21, which was largely due to strong capital equipment sales and a strong recovery in recurring revenue.
Sarine's FY22 earnings fell 46% y-o-y, below expectations.
- - Read this at SGinvestors.io -
- In addition, Sarine Technologies's net profit in 2H22 was also below our expectations on account of a US$0.6m charge associated with a repatriation of funds from Sarine Technologies’s subsidiary in India. The higher general and administrative expenses were also a result of legal fees with regards to patent and copyright litigations as well as an increase in bad debt provisions. Full-year earnings came in at US$8.7m, below our expectations of US$11.2m.
- - Read this at SGinvestors.io -
Sarine to acquire majority stake in grading lab GCAL, accelerating e-grading’s acceptance by the market.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Sachin MITTAL DBS Group Research | Singapore Research Team DBS Research | https://www.dbs.com/insightsdirect/ 2023-02-28
Read also DBS's most recent report:
2023-11-21 Sarine Technologies - Subdued Radiance Of Diamond Markets.
Previous report by DBS:
2023-08-16 Sarine Technologies - The Diamond Market Loses Its Sheen.
Price targets by other brokers at Sarine Technologies Target Prices.
Listing of research reports at Sarine Technologies Analyst Reports.
Relevant links:
Sarine Technologies Share Price History,
Sarine Technologies Announcements,
Sarine Technologies Dividends & Corporate Actions,
Sarine Technologies News Articles
