Sarine Technologies - Cost reductions driving profitability

Sarine’s prudent cost management in Q218 translated into a 12.4% y-o-y increase in EBIT to US$4.7m, despite the lack of top-line growth. The company continues to focus on increasing the recurring revenue streams from retail-oriented services led by Sarine Profile and the 4Cs grading reports, with its second technology lab that recently opened in Mumbai. Despite the progress in already initiated projects with downstream customers being slower than expected, management remains confident that these services will become an important contributor to group sales.