Dec 30, 2014

Sarine: Q4 2014 Revenues Will Not Be Affected by “Current Industry Conditions”

Sarine Technologies Ltd, listed on the SGX in Singapore, has clarified that the Company expects its revenures for Q4 2014 to be “in line with or slightly better than those of Q4 2013 notwithstanding the challenges currently faced by the diamond industry”.

A statement noting this was issued by the company management in Israel last week in response to what it said were “unwarranted concerns regarding its fourth quarter’s expected financial results”. It further said that an earlier note issued to the Exchange in response to a query by the SGX regarding the unexplained trading of its share on Dec 22 had “seemingly been misconstrued as indicating that a loss for the quarter (Q4) could be expected”.

The statement ended on a bullish note, saying that the “Management strongly believes Sarine will be profitable for the quarter, which will allow us to recommend to the Annual General Meeting to approve a final dividend for the year in accordance with our published dividend policy”.