Sarine Tech struggles as diamond industry’s troubles intensify
Profitability will be negatively impacted.
Sarine warned that the negative sentiment in the diamond industry will continue to impact its profitability in the near-term.
The industry is beset by issues of rough vs. polished prices, inventory overhang and working capital liquidity.
"The confluence of these factors and conditions has negatively impacted our Group’s profitability for the quarter, and we expect to more or less break even,” stated Sarine Tech.