- 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.
- - Read this at SGinvestors.io -
- Gross profit margin contracted in 3Q due to a lower revenue base and product mix.
Introduces off-market share buyback offer.
- - Read this at SGinvestors.io -
Our thoughts on Sarine Technologies
India’s call for a two-month freeze on rough imports reflects weakness in diamond midstream.
- 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 | Amanda TAN DBS Research | https://www.dbs.com/insightsdirect/ 2023-11-21
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
