Thanks to the support of the diamond production growth Sarine managed to register higher revenue of $ 16.3 million due to increased sales of equipment for the diamond sector and regular income.
Sarine Gross profit increased by 6% to $ 11.1 million, while gross margin remained stable at 68%. Profit from operations fell 14% to $ 3.2 million in the first quarter of 2017, versus $ 3.7 million in the first quarter of 2016. This is due to the increase in operating expenses, which was compounded by the strengthening of the Israeli currency against the US dollar. Group registered net profit decrease in the first quarter of 2017 to $ 2.5 million.
The penetration Sarine Profile system market continues apace, the company points out, especially in the Asia-Pacific region.
In the near future Sarine intends to introduce new technology to assess the color and clarity of colored diamonds.
"These new technologies will be used to maintain the assessment of the market" 4C "diamonds worth $ 500 million a year These technologies are currently undergoing extensive testing in India, and Sarine expects the commercial introduction of new services in the third quarter of 2017." - said the company .
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The Tanzanian government has commented on the rumors that the attackers had planned to bring for sale to unsuspecting customers at the fair held in Arusha precious stones, synthetic stones, packaged in the form of natural tanzanite.
Commissioner for Minerals Mchvampaka Benjamin (Benjamin Mchwampaka) told Rough & Polished correspondent on the sidelines of gems fair that organizers are closely monitoring so as not to let the show synthetics.
"Our (Fair) in Tanzania is only for real things, so we do not encourage anyone who tries to interfere with the show, introducing synthetic stones which may tarnish the image of the event", - he said.
"I warn all who intend to do that after the discovery of such facts of the material will be confiscated by the Commissioner for Minerals, and against these people the necessary measures will be taken in accordance with applicable laws. I urge them to refrain from interfering with the show and not to bring unwanted synthetic stones "- added Mchvampaka.
He also noted that the government organized three laboratories for the duration of the fair, where customers who doubt the authenticity of any stone could check it before buying.
The three-day fair of precious stones began on Wednesday.
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