Sarine Technologies Q1 profit rises 27% to US$3.1m

SINGAPORE - Sarine Technologies, a mainboard-listed precision technology products maker, has posted a 27 per cent rise in net profit to US$3.1 million for the first quarter ended March 31, 2018, up from U$2.5 million a year ago.

Revenue rose 2.4 per cent year-on-year to US$16.7 million, on higher equipment sales and recurring income from renewed activity in India's midstream diamond manufacturing sector.

Earnings per share were higher at 1.15 Singapore cent for the quarter, compared to 0.92 Singapore cent for the previous year.

No dividends have been announced for the period.