Sarine’s Profit Jumps Amid “Resurgence of Diamond Manufacturing”
Israel-based diamond tech company Sarine has published its FY 2021 performance (ended 31 December 2021), showing a jump in revenue of 52% to $62.1 million, Rough & Polished reports.
Sarine attributes the rise in revenue to “overall positive business conditions for most of FY2021 and the strong resurgence of diamond manufacturing activities.” The jump in revenue also benefited from “increased capital equipment sales and higher recurring revenues,” mostly from Galaxy inclusion scanning revenues (up 46% year-on-year).
In 2021, net profit soared 596% increase year-on-year. The company added that it expects trade revenues “to continue growing in FY2022 from new customers and the broadening adoption of our new technologies.”