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Sarin Tech posts 31% rise in net profit to $8.2m |
| Source: The Edge | Publish date: Sun, 5 Aug 23:11 | > > Read article in News website Sarin Technologies, the manufacturer precision products for the evaluation of diamonds and gems, said net profit for the second quarter ended 30 June 2012 (2Q2012) rose 31% to US$6.6 million ($8.2 million) from US$5 million in 2Q2011. In 2Q2012, Sarin delivered 14 Galaxy family systems, of which 13 were shipped to customers and one XL system to the service centre in Belgium. This boosted quarterly group revenues to US$18.2 million, an increase of 16% from US$15.6 million in 2Q2011. |
Sarin Technologies - Early signs of easing (Buy, TP SGD1.68)
Author: kiasutrader | Publish date: Wed, 12 Sep 09:03 | > > Read article in Blog website
De Beers reduced rough diamond prices in the last DTC sight in August by an average of 8%. The cut narrowed the gap between rough and polished price movements from about 15% to 5%. Polished diamond prices were also more stable in August. This is positive for the industry as it would ease liquidity challenges and profit margin pressures for manufacturers. Indian manufacturers face the added burden of a weak rupee. Although current developments are moving in the right direction, we believe that they would remain cautious and hold back from making capital equipment spending until further signs of easing. We urge investors to look beyond FY12 for the next leap of growth for Sarin in the polished diamond sector. Adoption of Galaxy is also at an early part of the cycle. Current valuations is a steal after the fall in share price. Reiterate BUY with target price of SGD1.68, pegged to 13x PER on FY13F earnings.
Source: Maybank Kim Eng
can buy?