Sarine Technologies - DBS Research 2023-11-21: Subdued Radiance Of Diamond Markets

• Sarine Technologies (SGX:U77)'s 3Q23 continues to be hampered by economic uncertainties and midstream malaise. 3Q23 revenue of US$10.4m fell 28.0% y-o-y on the continued weakness in midstream manufacturing activities. Sarine Technologies fell into a net loss position at -US$1.0m in 3Q23, below expectations.
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• Gross profit margin contracted in 3Q due to a lower revenue base and product mix.

Introduces off-market share buyback offer.

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Our thoughts on Sarine Technologies

India’s call for a two-month freeze on rough imports reflects weakness in diamond midstream.

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Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

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 Dividend Payout Dates & Corporate Actions,
Sarine Technologies News