Sarine Technologies Ltd announced that its revenue for the second quarter of 2016 increased by 45%, to $ 20.9 million, while net profit increased immediately by 126% to $ 6.0 million. The increase is due to improved sentiment in the diamond industry.
Results for the first six months of this year, ending June 30, showed that revenue increased by 37% to $ 36.4 million compared to $ 26.6 million for the first half of 2015. The company's profit for the second quarter increased to $ 6.7 million, which is 150% higher than the $ 3.4 million for the same period in the previous year.
Sarine Group companies achieved a record number of Galaxy devices deliveries on the background of a positive overall performance of the global diamond industry, as well as due to improving sentiment in the Indian diamond cutting industry. Of the 20 set Galaxy 10 family of systems are Meteor model for small stones, 8 constitute Solaris model and 2 belong to the Galaxy Ultra system. Thus in 2015, the company shipped only 25 Galaxy systems.
Uzi Levami (Uzi Levami), executive director of the Sarine, said: "Although we expect some decrease in supply in the second half of 2016, partly due to the Indian festival of Diwali in the fourth quarter, we are confident that 2016 will be a record year for deliveries Galaxy family system . we hope that we will be able to expand and ship more than 40 units sold in previous years. "
At the same time, more and more leading retailers in the US and in the Asia-Pacific region are going to take Sarine Profile to enhance the experience of buying diamonds for customers.
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