Sarine Technologies' earnings for 4Q ended Dec 31, 2015 fell 62.1% to US$1.47 million ($2.1 billion).
Revenue slipped 32.3% to US$12.39 million.
For the full year, earnngs plunged 86.8% to US$3.59 million. Revenue tumbled 44.8% to US$48.5 million.
"The negative sentiment, primarily in the midstream, still our main customer base, started to manifest itself in the last four months of 2014," the group says. "The combination of overly aggressive rough diamond pricing and stagnant polished diamond prices, mostly due to restrained demand from markets ex-US in general, and China in particular, resulted in unsustainably low manufacturer margins."
The firm has recommended a final dividend of 1.5 US cents for FY2015. A year earlier, a final dividend of two US cents had been recommended.
Sarine Technologies' ended 3.4% higher at $1.37 on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
Revenue slipped 32.3% to US$12.39 million.
For the full year, earnngs plunged 86.8% to US$3.59 million. Revenue tumbled 44.8% to US$48.5 million.
"The negative sentiment, primarily in the midstream, still our main customer base, started to manifest itself in the last four months of 2014," the group says. "The combination of overly aggressive rough diamond pricing and stagnant polished diamond prices, mostly due to restrained demand from markets ex-US in general, and China in particular, resulted in unsustainably low manufacturer margins."
The firm has recommended a final dividend of 1.5 US cents for FY2015. A year earlier, a final dividend of two US cents had been recommended.
Sarine Technologies' ended 3.4% higher at $1.37 on Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment